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McConnell Wants Revenue-Neutral Tax Plan, at Odds With Trump

  • Border-adjusted tax faces ‘rather bleak’ Senate prospects
  • GOP Senate leader says he won’t put a deadline on tax bill
Bloomberg business news

Senate Majority Leader Mitch McConnell talks about work in the U.S. Senate to deliver 50 votes on health care and complete tax reform during the current Congress. He speaks with Bloomberg's Kevin Cirilli on 'Bloomberg Daybreak: Americas.' (Source: Bloomberg)

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Senate Majority Leader Mitch McConnell said that any tax overhaul can’t add to the growing U.S. budget deficit, a position that places him at odds with President Donald Trump, who has called for a significant tax cut.

McConnell said in an interview Tuesday with Bloomberg News that the nation’s “alarming” debt requires an approach that would balance tax cuts with new sources of revenue to avoid changing overall government receipts.