September 27, 2017 President Trump calls 20% corporate tax rate 'perfect' Freedom Caucus supports unified framework, budget President Trump on September 27, 2017, said the 20% statutory corporate tax rate included in the "Unified Framework for Fixing Our Broken Tax Code" unveiled earlier is non-negotiable and is the "perfect number." During a press gaggle before departing for a tax reform speech in Indianapolis, Indiana, President Trump said the 15% corporate rate he had been calling for as recently as this past weekend "was so low we didn't take in the revenue. But I wanted 15, so we got 20 — 20 is my number. So I'm not negotiating that number. I really — I am not going to negotiate. That's the number I wanted to get to." A 20% corporate tax rate was also the ceiling set by some members of the House Freedom Caucus, who had until now withheld support for the House FY 2018 budget resolution, citing insufficient information about the tax reform legislation it would facilitate by authorizing the reconciliation process. The Freedom Caucus took an official position in support of the Republican framework for tax reform, and said it will also support the House Republican budget. "President Trump has delivered a forward looking tax reform framework that will let hard working Americans keep more of their money, simplify our system, end carve outs for special interests, and will help make our businesses competitive abroad," the group said. "The Freedom Caucus looks forward to sending a final bill based on this framework to President Trump's desk as soon as possible." During his speech in Indianapolis, President Trump again made comments insisting upon the rate included in the framework, saying, "We will reduce the corporate tax rate to no higher than 20%." He described the unified framework and said, "Over the next few months, the House and Senate will build on this framework and produce legislation that will deliver more jobs, higher pay, and lower taxes for middle-class families, for the working man and woman and for businesses of all sizes." The President said the current tax system makes the United States one of the few developed nations to punish domestic companies when they bring wealth earned overseas back into the country, resulting in corporations holding trillions of dollars in foreign countries, and many incorporating abroad. "We're going to let them bring the money back home. Our framework will stop punishing companies for keeping their headquarters in the United States," he said. The event followed similar visits by President Trump to states that he won in 2016 and that have a Democratic senator — in this case, Joe Donnelly (D-IN) — up for re-election in 2018. Donnelly attended the speech and the President made clear voters will hold him responsible if he does not cooperate in the tax reform effort. "And I have to say just before coming here, we released some of the details of the tax and the tax reform and the tax cuts. And it has really received tremendous, tremendous reviews," President Trump said. "And if Senator Donnelly doesn't approve it, because you know, he's on the other side, we will come here. We will campaign against him like you wouldn't believe." ———————————————
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