What happened: On Monday, there were some tense moments for Republicans at both ends of Pennsylvania Avenue, as word got out Trump wasn’t thrilled with the framework, sources tell Axios’ Jonathan Swan.
Trump wanted to propose an even lower corporate rate. It’s “The Art of the Deal”: Don’t open the bidding with the number you ultimately want — 20% (the figure announced yesterday), down from 35%. Open with an extreme bid and work back. Trump wanted to propose 15%.
Trump was also attuned to the political risks of raising the bottom rate from 10% to 12%, while cutting the top individual rate. (That would shift the pitch to a zero rate with the doubling of the standard deduction, and leave room for a higher top rate. Yesterday’s plan could drop the top rate for individuals to 35% from 39.6%.)