Trump says Missouri Sen. McCaskill should back tax cuts or lose re-election

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Trump's plan was light on details, but centered around four ideas: simplifying the tax code, cutting corporate taxes, giving tax relief to middle-class families and repatriating trillions of dollars now parked overseas.

The White House official said Tuesday that the tax code legislation will be an "unified proposal" between the administration and GOP House and Senate leaders in order to improve its chances of passage and said conversations with lawmakers are ongoing.

But a major tax reform may be easier said than done.

Trump said his vision for re-writing the nation's tax system, one of his key campaign pledges, would unlock stronger economic growth and benefit companies and workers alike.

Trump will visit Springfield, Missouri a day after touring hurricane-ravaged southeastern Texas.

The White House is dodging questions about the details, which will decide the plan's fate.

He'll speak at a manufacturing company in Springfield. "Democrats believe that not one penny of tax cuts should go to the 1%".

"For tax reform to be permanent it must be bipartisan, and to be serious it must abandon the exhausted myth that tax cuts pay for themselves", said Rep. Steny Hoyer (D-Md.), the minority whip.

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"Anybody I forget?" Trump said, before moving on with his speech.

The notice from the White House does not specify if this is a public event.

The praise for the 1986 bill marks a reversal for Trump, who was previously heavily critical.

Trump's daughter wants tax code reform to help make it easier for working mothers to pay for childcare.

While the current Trump tax plan largely mirrors his campaign plan, one big change is its proposal for a "territorial" tax system, which would exempt the foreign profits of us multinational corporations from USA taxes.

The speech is unlikely to provide new details about a tax plan Trump's aides and Republican leaders in Congress are trying to hammer out in closed-door meetings in Washington.

Republicans quickly embraced Trump's pitch, vowing to work with the president to get a tax rewrite to his desk.

Further, as we've explained, we estimate that the annual tax cuts for the 400 highest-income families would average roughly $15 million each from two Trump tax plan provisions alone.

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