Business

Ryan, Trump advisers meet on tax reform

by Naomi Jagoda - 01/09/17 4:18 PM ET

Speaker Paul Ryan (R-Wis.) and representatives for President-elect Donald Trump met Monday night to discuss tax reform, a major priority for the new Congress and incoming administration.

During the meeting, Ryan and his policy staff were scheduled to walk through the tax-reform blueprint that House Republicans released in June, according to a senior GOP aide.

The Trump aides participating in the meeting included Reince Priebus, the incoming White House chief of staff, and Stephen Bannon, who has been named Trump’s chief strategist, as first reported by The Washington Post.

Also present were Treasury Secretary nominee Steve Mnuchin, Jared Kushner, and Rick Dearborn.

Ryan and his staff and the Trump advisers met for about two and a half hours and ate Italian food during the meeting.

Following the meeting, the participants gave few clues about what was discussed. A Politico reporter said Priebus called the meeting “very productive,” though no further details were forthcoming.

CNN’s Deirdre Walsh reported that Bannon, when asked about a timeline for an Obamacare repeal, said they’re “still thinking that through.”

Priebus calls 2.5-hour tax reform meeting with Ryan “very productive,” Trump group mum on details leaving

— Katy O’Donnell (@KatyODonnell_) January 10, 2017

Bannon on mtg w/@SpeakerRyan: “Just going through tax reform, infrastructure, Obamacare – everything”

— Deirdre Walsh (@deirdrewalshcnn) January 10, 2017

Asked about plan for Obamacare repeal & replace discussions over sequence, Bannon says “still thinking that through.”

— Deirdre Walsh (@deirdrewalshcnn) January 10, 2017

{mosads}The House Republican blueprint would lower tax rates for individuals and businesses, eliminate some existing tax preferences and revamp the IRS. It would also move the corporate tax system toward a consumption-based system.

The House Ways and Means Committee is taking the lead on drafting tax reform legislation based on the blueprint.

The tax plan Trump released in September has some similarities to the House Republicans’ plan, as well as some differences. The two plans have the same tax rates for individuals, but Trump’s would lower the corporate tax rate to 15 percent, while the House GOP plan would lower it to 20 percent.

Updated 10:24 p.m

Tags Donald Trump Paul Ryan