In a sit down interview with Maria Bartiromo on the Fox Business Channel, President Trump explained why he wants to tackle healthcare reform first before tax reform.
Trump notes that tax reform is essential to economic growth for small and big businesses. However, Trump believes “hundreds and hundreds of millions of dollars” would be saved if his administration reforms the health care system, which then in turn would aid tax reform:
“I have to do healthcare first, I want to do it first to really do it right. We’re saving tremendous amounts of money on health care when we get this done, number one, and most importantly … we’re going to have great healthcare, and all of that savings goes into the tax. If you don’t do that you can’t put any of the savings into the tax cuts and the tax reform.”
White House Press Secretary Sean Spicer refrained from giving an estimated timeline of when the administration would address tax reform when asked by FOX Business’ Blake Burman at a daily press briefing.
Trump followed similar sentiment when asked about the timeline of tax reform: “Health care is going to happen at some point. Now if it doesn’t start fast enough, I’ll start the taxes. But the tax reform and the tax cuts are better if I can do healthcare first.”
However, both White House National Economic Council Director Gary Cohn and Treasury Secretary Steven Mnuchin have commented that tax reform would be handled by August 2017.
H/T: Fox Business
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