"Since I was in charge of drafting the debt ceiling provision that we inserted into the flood bill we likely-almost certainly-are not going to have another debt ceiling discussion until well into 2018".
The as-yet-undrafted bill to overhaul the tax code is the top priority for Trump and Republicans.
Ryan said Wednesday that after the tax draft is released the week of September 25 a detailed version will be readied in hopes of action by the House later this fall. "Again, as long as we are steering that conversation, we need to see something done with tax reform".
The meeting touched on a number of topics, but its focus was on tax reform, where the president "strongly stressed" his interest in getting a pro-growth tax reform package done "as quickly as possible", according to attendee Pat Toomey, R-Pa.
President Donald Trump's recent deal with congressional Democrats on a short-term extension of the debt limit gave a lot of Hill Republicans heartburn, but a Morning Consult/POLITICO survey indicates that their frustration with the president doesn't appear to have trickled down to most GOP voters.
"But we must pass something before we leave for Christmas, that's for sure", she said. President Trump has touted a 15% corporate tax rate, which Mnuchin said could be hard to achieve. Also attending will be influential Republican Sens.
Short said Republicans are still planning to pass tax reform via reconciliation, which would only require GOP votes, but added the White House plans to reach out for bipartisan backing and is not assuming it can be done "strictly on a partisan basis". The measure is something of a touchstone for liberal Democrats, and on Tuesday Sen.
Treasury Secretary Steven Mnuchin and Gary Cohn, the director of the National Economic Council, have been working for months with Republican congressional leaders to craft a tax proposal.
"What do you do about cutting taxes and not piling onto the debt?"
Trump had dinner Tuesday with a group of Republican and Democratic senators to talk taxes. But after dissenting Republicans torpedoed the effort to repeal the Affordable Care Act, Trump is eager to line up some Democratic supporters for insurance. He would reduce the corporate tax rate to between 15 and 20 percent.