White House weighing whether Trump can sidestep Congress to cut taxes: report - Business Insider

President Donald Trump signs executive orders extending coronavirus economic relief, during a news conference in Bedminster, New Jersey.The White House is studying whether it has authority to sidestep Congress and cut taxes unilaterally,Congress holds power to set tax policy and waive taxes, and any measure to cut taxes could trigger blowback from both Democrats and Republicans.

President Trump supports a capital-gains tax cut, which experts say would mostly benefit wealthy households.The White House is determining whether President Donald Trump has the authority to sidestep Congress and cut taxes on his own,The newspaper cited a senior administration official granted anonymity. Such a move to cut personal income or business taxes, however, does not appear to be on the horizon so far.

While the president can delay many tax payments for up to a year, Congress holds authority to set tax policy under the Constitution. That power includes forgiving tax bills. Any measure aimed at circumventing the legislative branch could trigger court challenges and criticism from Democrats and Republicans.

Any US high school graduate: no he can't.

No!

SC ruled that President can extend DACA even you’re no longer the sitting President like Obama. Everything the President signs and orders remains unless contested by SC. Remember his Executive powers is equivalent to Supreme Court, same as powers of Congress. Co-Equal branch.

Can we side step elections and just use PitchforksAndGullotines?

Yes. Great idea. Cut the main source of revenue for the govt as we spend trillions to spur demand. Sometimes you wonder how Donald trump went bankrupt so many times. Then you remember: he’s a fucking idiot who will fuck whomever he needs to. Problem is this is our government.

Might as well try. Should give Biden an idea of what Republicans will surely also be totally cool with him getting away with too

Spoiler Alert: No, he can’t. Taxing and spending is Congress’ role under Article I of the Constitution.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside Sunrun strategy to provide clean power from customer batteries - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Inside Equifax's cloud migration and digital transformation strategy - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Business Insider Subscription - Sign up TodayAs a BI subscriber, we’ll take you inside the companies you care about, industry analysis on new trends, and important interviews and info you can’t afford to miss. Subscribe now for up to 50% off your annual subscription
Source: BusinessInsider - 🏆 729. / 51 Read more »