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Trump Tax Plan Has No Shot of Passing in 2017, Obama Official Says

  • Iwry says tax cuts can still happen in 2018 despite mid-terms
  • Congress likely to tap retirement savings to offset cuts: Iwry
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Sen. Casey Says GOP Tax Plan Is 'Huge Giveaway' to Rich

There’s no chance that President Donald Trump and GOP leaders will be able to overhaul the U.S. tax code this year, but they may be able to pass a bill providing tax cuts, according to a former top Treasury official in the Obama administration.

“The odds of tax reform coming out of this Congress are zero percent,” J. Mark Iwry, former deputy assistant Treasury Secretary in the Obama administration and a senior fellow at the Brookings Institution, said Thursday at a conference in New York. “The odds of tax cuts are considerably higher.”