Home Economy Congress may seek one-week extension to avert government shutdown | Trump tax plan ‘not even close’ to reform, say Republicans

Congress may seek one-week extension to avert government shutdown | Trump tax plan ‘not even close’ to reform, say Republicans

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         Congress may seek one-week extension to avert government shutdown | Trump tax plan ‘not even close’ to reform, say Republicans

Lawmakers on Capitol Hill are inching toward a deal to fund the government through September but are preparing to possibly extend a deadline of Friday at midnight to wrap up talks and avoid a partial government shutdown.

Reuters writes that a one-week extension would give Democrats and Republicans “a little breathing room” to finish negotiations and present a plan for spending about $1 trillion through the rest of the fiscal year. Without a new spending bill the government would partially shut down early Saturday morning.

Also read: Pelosi cites progress on Obamacare funding — laying groundwork to avoid government shutdown.

‘Not even close’ to tax reform: CNN reports that congressional Republicans are voicing quiet frustration that President Donald Trump’s tax package, announced Wednesday, lacked components necessary to secure the first major tax reform in more than 30 years. Trump’s top-line principles left out the pathway for reform through the House and Senate and where interest groups stand on tax issues, among other things, CNN wrote. “It’s not tax reform,” said a senior Republican aide. “Not even close.”

Read more from MarketWatch about the Trump tax plan:

• Opinion: Four stocks that would get an immediate boost from Trump’s tax reform.

• Markets got what was broadly expected from tax plan: a starting point.

• Full text of Trump administration tax reform principles.

Trump to sign memo on aluminum imports: Trump will sign a presidential memorandum on Thursday directing an investigation into whether foreign aluminum poses a threat to U.S. national security. The Wall Street Journal has more on the probe, writing that the administration is increasingly relying on national security as an argument for considering tariffs or other tools that could block some imports and help rebuild parts of U.S. industry.

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