In what administration officials billed as a “closing argument” on tax reform, President Donald Trump used a speech in the grand foyer of the White House Wednesday to amplify voices of Americans he claims will directly benefit from the Senate and House Republican tax reform agreement announced earlier in the day.
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Touting his party’s tax reform goals, Trump pledged he would “never let bad things happen with respect to the economy of our country,” and called upon multiple guests in attendance to personally plea for Congress to push through the tax reform plan — a tactic reminiscent of the events President Barack Obama employed in his public relations campaign to pass the 2010 Affordable Care Act.
Trump also used the announcement to broadcast what he termed “breaking news,” saying he had confirmed exactly when Americans would start to feel the effects of the tax bill.
“I’m excited to announce that if Congress sends me a bill before Christmas, the IRS, this is just out. This is breaking news. The IRS has just confirmed that America will see lower taxes and bigger paychecks beginning in February. Just two short months from now,” he said.
The White House says it comes down to lower withholding rates by the IRS, which are set to take effect in February if the GOP passes its tax bill on schedule.
“The IRS will have to readjust their withholding tables in light of the tax cuts so that less is withheld from each paycheck. The new withholding will take effect in February,” a White House official said.
The IRS has said it will issue a statement on the issue but has yet to do so. It has not responded to multiple requests from ABC News for comment.
While the president is touting the benefits of the plan, some details of the emerging plan — including the number of tax brackets — have yet to be finalized.
Congressional sources confirm to ABC News that the tax bill will include a repeal of the Obamacare individual mandate. The repeal was originally included in the Senate bill but not the House version.
Republican negotiators from the House and Senate working to merge the two chambers’ tax bills into one have reached an agreement “in principle,” according to two senior congressional sources who spoke on condition of anonymity.
The sources could not offer specifics about the agreement. One source cautioned that while…