Source Politico: Trump to seize populist mantle for pitching messy tax overhaul

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Trump will deliver remarks on tax reform today in Springfield. "Your senator, Claire McCaskill, she must do this for you, and if she doesn't do it for you, you have to vote her out of office".

If a lower US tax rate on foreign profits encouraged USA corporations to move investments offshore, it could hurt US workers' wages and productivity. Cady added that a high corporate tax rate deters economic growth and job growth, reduces incentives to invest in the United States and pits small businesses against lobbyists seeking special subsidies for larger corporations.

"There has been this unfortunate idea that everything has to be zero sum and certain people have to lose for somebody else to gain", said a White House official who spoke to reporters on condition of anonymity.

Reiterating a campaign theme, Trump will say in his speech, scheduled for 2:30 p.m. EDT (1830 GMT), that the USA economy is "rigged" to favor the privileged few and urge closing loopholes for the wealthy and special interests to help "Main Street".

The White House in April released the broad strokes of Trump's proposal to reform the tax code. The administration insists that its tax reform plan does not include loopholes or tax cuts for the wealthy.

All these issues will underscore the impact of proposed tax cuts on deficits and debt that Mr. Trump and Republicans have promised to bring under control.

"We must, we have no choice, we must lower our taxes".


White House officials said that the president wanted to strike a serious tone and highlight a manufacturing business, rather than hold a large campaign-style rally.

Trump envisions a corporate tax rate dropping from 35 percent, now the highest in the industrialized world, to around 15 percent.

The aide said the goal of the speech was for the president to speak to the American people about "why tax reform and relief is needed to unrig the system and jumpstart our economy".

During an interview with The Financial Times on Friday, National Economic Director Gary Cohn said Trump's agenda "is going to completely revolve around tax reform" moving forward. She will be under pressure to break with her party and back Mr. Trump's plan, if he can sell it to voters in Missouri and across the country.

The speech is unlikely to provide new details about a tax plan Trump's aides and Republican leaders in Congress are trying to hammer out in closed-door meetings in Washington.

Still, Trump is expected to play a much more public role in driving support for tax reform, taking to the road more frequently to hammer the benefits of tax reform than he did during Republicans' failed effort to repeal Obamacare.

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