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'Our Tax Code Is a Giant, Self-Inflicted Wound': Will the GOP Deliver on Tax Reform?

'Our Tax Code Is a Giant, Self-Inflicted Wound': Will the GOP Deliver on Tax Reform? Read Transcript


Republicans in the House, Senate, and White House

are forging ahead on tax reform, promising

to simplify the tax code in a way that provides

relief for all Americans.

Our tax code is a giant self-inflicted economic wound.

We need tax reform that is pro-growth, pro-jobs,

pro-worker, pro-family and, yes, pro-American.

ABIGAIL ROBERTSON: President Trump's daughter

Ivanka is also getting actively involved

in the administration's push to reform the tax code.

She spoke to a group of pro-family advocates

this week, alongside members of Congress,

to discuss ways to take care of the needs of families

by expanding the child tax credit.

It is very important to the president

and this administration that this is really

a tax cut for the middle class and for working families.

One of the ways we can deliver a tax cut

is through a more generous child tax credit.

This administration is pushing for the largest child tax

credit possible.

ABIGAIL ROBERTSON: Ralph Reed, president of the Faith

and Freedom Coalition, is a strong supporter of increasing

the child tax credit.

He says he helped President George W. Bush double it

to $1,000 16 years ago.

But it has not been increased since.

RALPH REED: We think it's time.

We think it's a heck of a lot more effective for America's

children to let those mothers and fathers keep

the money than it is to send it to Washington

and let bureaucrats and politicians decide

how to spend the money.

ABIGAIL ROBERTSON: Grover Norquist, a long-time advocate

of tax reform, says it's time to get rid of many of the problems

in the current tax code.

Economic growth, creating more jobs, is terribly important.

But then also, going through the code

and taking out both inefficiencies, things

that are special breaks for some industry or some group,

getting rid of those, and making sure

that families are a central part of what we worry about.

ABIGAIL ROBERTSON: Norquist says he's pleased

that Republicans in the White House

and both houses of Congress seem to be unified on the tax plan.

The good news is, Paul Ryan told me

that they're 97% agreement, the House, the Senate,

and the White House.

So now it's just a question of we

know the ingredients that are going in,

just how much of each.

Republicans seem confident they

will deliver on their goal of meaningful tax reform

by the end of this year.

Reporting from Washington, Abigail Robertson, CBN News.

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