Trump: Rich people ‘will not be gaining at all’ under tax plan

President Trump said Wednesday that wealthy individuals “will not be gaining at all” from his tax plan, as he seeks Democratic support for his push to rewrite the tax code.

“I think the wealthy will be pretty much where they are,” Trump said at a meeting with lawmakers at the White House when a reporter asked if the rich will see higher tax rates.

“If we can do that, we’d like it. If they have to go higher, they’ll go higher, frankly. We’re looking at the middle class and we’re looking at jobs,” he added.

{mosads}

Trump spoke about tax reform and other issues in a meeting with centrist House members from both parties. The president said that the meeting would also include discussions about infrastructure, health care and the Deferred Action for Childhood Arrivals (DACA) program.

Participants in the meeting included the leaders of the Problem Solvers Caucus: Reps. Tom Reed (R-N.Y.) and Josh Gottheimer (D-N.J.). 

“More and more we’re trying to work things out together, and it’s a positive thing and it’s good for the Republicans and good for the Democrats,” Trump said.

The meeting comes as the president is increasing his outreach to Democrats.

Trump sided with Democratic leaders last week on a bill to fund the government for three months, raise the U.S. debt limit and provide relief aid in the wake of Hurricane Harvey.

The president also met Tuesday evening with three Democratic senators up for reelection in 2018 to discuss tax reform, and he is having dinner with Senate Minority Leader Charles Schumer (D-N.Y.) and House Minority Leader Nancy Pelosi (D-Calif.) on Wednesday to discuss DACA and health care.

Many Democratic lawmakers have said that they would not back a tax bill that cuts taxes for the wealthiest Americans. Think tanks’ estimates of previous tax proposals from Trump have found that they would largely benefit upper-income taxpayers.

Trump in the meeting Wednesday reiterated four tax-reform principles that he has detailed in recent speeches: provide tax cuts for the middle class, simplify the tax code, lower taxes for companies and incentivize companies to bring back trillions of dollars held overseas.

House Ways and Means Committee Chairman Kevin Brady (R-Texas) announced Wednesday that the White House and congressional GOP leaders expect to release a tax framework the week of Sept. 25.

Speaker Paul Ryan (R-Wis.) predicted that a tax bill would receive some votes from centrist Democrats in the House but also defended Republicans’ plans to take advantage of a process known as “reconciliation” that can prevent legislation from being filibustered by Democrats.