Commerce Secretary Wilbur Ross said Friday that the Trump administration doesn’t want to “unnecessarily irritate” Congress with the coming tax reform plan.
“What we don’t want to do is things that will unnecessarily irritate that Senate because we need the votes there, and as was proven with health care, it’s a very fragile margin, so it’s a question of timing more than it is direction,” Mr. Ross said on CNBC.
When asked if that meant President Trump may be willing to compromise on some legislative goals, like trade agreements, Mr. Ross said that the main goal is tax reform and lowering the corporate rate.
“The president is not going to suddenly be happy with trade deficits. He’s not going to be happy with exporting jobs. But the real priority is to get the tax bill through. A tax bill that materially lowers the corporate tax rate, so we can bring back businesses here and to take care of the repatriation, so we can get those funds that have been trapped off shore,” Mr. Ross said.
The president’s tax plan has not been released yet, but Mr. Ross said the plan is to lower the corporate rate to stimulate the economy and help boost job growth.