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The Playbook Podcast

November 1, 2017

The Playbook Podcast

POLITICO

News, Daily News, Politics, Government

3.9699 Ratings

🗓️ 1 November 2017

⏱️ 4 minutes

🧾️ Download transcript

Summary

Tax reform roll out delayed, terror in New York and more in today's Audio Briefing.

Transcript

Click on a timestamp to play from that location

0:00.0

Good Wednesday morning, I'm Anna Palmer and welcome to Politico Playbook Audio Briefing, sponsored by BP.

0:06.4

And I'm Jake Sherman. The big news of the morning is Republicans will not roll out their tax bill today and instead will wait until Thursday.

0:12.9

They're working on unresolved issues. They're trying to fit a lot of tax cuts into a small bill, in essence.

0:19.2

The Wall Street Journal is reporting that House Republicans

0:21.1

will preserve the top individual tax rate of 39.6%. Our colleagues are also reporting that, and they're

0:26.5

also reporting that Ryan told conservatives yesterday the income threshold would be higher than it is now,

0:31.6

putting that between $750,000 and a million dollars. He said the estate tax would be repealed but might have to

0:38.2

be phased out to save money in the short term unresolved items include the salt tax how to ensure

0:43.1

wealthy individuals don't take advantage of the lower 25% small business rate and what to do about

0:49.0

401k retirement plans ryan was also fuzzy on the timing for a one-time tax repatriation. We've got a new

0:56.3

Politico Morning Consult poll up this morning that shows voters like tax reform, but are cool to a

1:01.3

corporate rate cut. Forty-eight percent of registered voters who responded to the poll said they

1:06.2

strongly support or somewhat support the overall proposal based on what they knew about it compared to

1:12.3

37% who opposed it. But a key part of the plan, lowering the corporate tax rate to 20% from 35%

1:19.9

remains one of its least popular aspects. A plurality of respondents, 41%, said it shouldn't be part of

1:26.9

tax legislation compared to 39% who said it should.

1:30.7

Let's talk about what this delay means. It's not that big of a deal. Republicans want you to believe that, and it's somewhat true.

1:37.3

Massive bills, and this one will be 1,000 plus pages, are hard and they take time.

1:41.8

Tax reform is not a walk in the park. This is only going to get harder.

1:45.0

Remember, we haven't seen a single detail yet, not one.

1:48.3

The delay helps highlight that this is a long, arduous, and tricky process.

1:52.1

And here's an important reminder.

...

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