White House to negotiate tax overhaul behind closed doors

House Speaker Paul Ryan of Wis., speaks during the National Association of Manufacturers (NAM) 2017 Manufacturing Summit in Washington, Tuesday, June 20, 2017. Overhauling the nation's tax code in a once-in-a-generation opportunity, says House Speaker Paul Ryan, who is promising to act by the end of the year despite political divisions among Republicans and a crowded legislative agenda for Congress. (AP Photo/Carolyn Kaster) House Speaker Paul Ryan of Wis., speaks during the National Association of Manufacturers (NAM) 2017 Manufacturing Summit in Washington, Tuesday, June 20, 2017. Overhauling the nation's tax code in a once-in-a-generation opportunity, says House Speaker Paul Ryan, who is promising to act by the end of the year despite political divisions among Republicans and a crowded legislative agenda for Congress. (AP Photo/Carolyn Kaster)

By Associated Press June 21, 2017 1 min read

WASHINGTON (AP) – The White House plans to privately negotiate a massive overhaul of the tax system with Republican leaders in Congress, possibly giving rank-and-file members little if any say over the finished product.

Gary Cohn, Trump’s top economic aide, says the administration doesn’t want to engage in prolonged negotiations after the package is made public this fall. Cohn says the goal is to release the overhaul in the first two weeks of September.

In April, the administration unveiled a one-page proposal that called for massive tax cuts for businesses and a bigger standard tax deduction for middle-income families, lower investment taxes for the wealthy and an end to the federal estate tax for the superrich – like the president and his family.