Wonkbook: What we know — and what we still don’t know — about Trump’s tax plan

By Max Ehrenfreund President Trump on Wednesday offered a g... | Sponsored by Morgan Stanley   The latest economic and domestic policy from Wonkblog   President Trump listens during a meeting in the White House March. 27. (Photo by Jabin Botsford/The Washington Post) By Max Ehrenfreund President Trump on Wednesday offered a glimpse into his approach to tax reform, with the White House announcing he wants to reduce rates -- especially on corporations and businesses -- as well as provide new breaks for working-class households and middle-class parents. But Wednesday's release contained no legislative text, or even the kind of detailed outline that policymakers often use to guide discussions of major reforms. Instead, it was a brief statement on how Trump plans to approach a revamp of the tax code, one of the new president's major domestic objectives. And while it offered a few new insights, it left Washington waiting on key details. Here's what we learned from the document, as well as the big tax questions the White House still hasn't answered. Read the rest on Wonkblog. Top policy tweets Journalists on twitter: This is not a plan! Journalists in news stories: This is a dramatic plan/blueprint/proposal etc — Julie Bosman (@juliebosman) April 26, 2017 ADVERTISEMENT   Probably the best, most balanced review of Trump's first 100 days by @DouthatNYT. It could've been worse. It wasn't https://t.co/wqkmdwMzDG — Shadi Hamid (@shadihamid) April 26, 2017 New AHCA changes woo HFC holdouts. Big question: will enough moderates go along? https://t.co/emfTiEKwWh (w/ @HouseInSession @StevenTDennis) — Sahil Kapur (@sahilkapur) April 26, 2017 NEWS: White House has privately told Pelosi it may stop ACA CSR payments NEXT MONTH, Dem aide tells me:https://t.co/jBKFBsiQvD — Greg Sargent (@ThePlumLineGS) April 26, 2017 Paul Ryan says reconciliation is the preferred mechanism for tax reform. Not working with Dems — Rachael Bade (@rachaelmbade) April 26, 2017 Most Recent Posts from Wonkblog Trump’s tax proposal: What it means for the rich, for the world and for you The White House has laid out how Trump is going to approach the tax code -- but details were sparse and the remaining questions are massive. By Max Ehrenfreund  •  Read more »   Trump close to notifying Canada, Mexico of intent to withdraw from NAFTA The move could also heighten tensions with Mexico and Canada, neighbors Trump has sparred with numerous times since taking office. By Damian Paletta  •  Read more »   Trump tax cut to be biggest of all time, treasury secretary says Treasury Secretary Steven Mnuchin also said President Trump won't support House Speaker Paul Ryan's tax proposal in its current form. By Damian Paletta  •  Read more »   Trump changes course on child-care benefit after criticism he would mainly help well-off families In an effort to reduce the child-care burden for America's middle-class families, the White House is looking at expanding a tax credit for working parents, a senior administration official said Tuesday. By Danielle Paquette and Damian Paletta  •  Read more »   Trump says Canada’s been ‘very rough’ on the U.S. Is he right? In a sharp pivot from his earlier criticism of China and Mexico for their trade practices, President Trump suggested Canada's benign image was deceptive. By Caitlin Dewey  •  Read more »   Republicans’ plan to cut corporate taxes would lead to massive revenue losses, congressional accountant finds A three-year cut in the corporate tax rate would lead to a $489.7 billion drop in revenue over 10 years, says the Joint Committee on Taxation. By Damian Paletta and Max Ehrenfreund  •  Read more »   ADVERTISEMENT   Recommended for you   Federal Insider Federal news and policy update, in your inbox daily. Sign Up »         Share Wonkbook:       Twitter      Facebook Trouble reading? Click here to view in your browser. You received this email because you signed up for a Wonkblog newsletter. For additional free newsletters or to manage your newsletters, click here. We respect your privacy. If you believe that this email has been sent to you in error or you no longer wish to receive email from The Washington Post, click here. Contact us for help. ©2017 The Washington Post, 1301 K St NW, Washington DC 20071