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Mulvaney, McConnell talk taxes

Screengrab via Fox News Sunday

Budget Director Mick Mulvaney and Majority Leader Mitch McConnell both stopped by "Fox News Sunday" to discuss the path ahead on tax reform.

Timeline

  • Mulvaney said he "absolutely" expects a bill by December, and said the tentative plan for the House to take up the Senate budget would "save as many as 10 or 12 legislative days, which is a big deal."
  • McConnell said he expected to pass the tax plan by the end of the year.

Top rate

  • Mulvaney said the White House was "agnostic" about the idea of adding a tax rate for the super wealthy, later adding that they "don't necessarily even want it. President Trump echoed those remarks on Fox News, indicating that the current plan is to keep the substantial cut for the wealthiest Americans that was in the initial plan.
  • McConnell dodged, saying: "I hate to get into the details of this."

Ending state/local deductions

  • Mulvaney said the plan to do so, which is a big sticking point because it means some people in high-tax states will actually see their federal taxes rise, would cause greater fairness and is something "we really are hoping to change and we hope the House and the Senate can accept that." (McConnell didn't address this issue.

Bonus

  • McConnell was asked about Steve Bannon's declaration of political war against him and many Republican incumbents in 2018. He said, "some of these folks that you've been quoting" — Note: she only quoted Bannon — "are specialists in nominating people who lose."
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