tax overhaul

Updated at 3:47 p.m. ET

President Trump is hosting a dinner at the White House Tuesday night for a bipartisan group of senators. On the menu: his plan to overhaul the tax code.

Republican leaders in the Senate are making plans to advance tax legislation on a simple, party-line vote. But after dissenting Republicans torpedoed the effort to repeal the Affordable Care Act, Trump is eager to line up some Democratic supporters for insurance.

When President Trump traveled to Missouri on Wednesday to make his pitch for tax code overhaul, it was a more conventional — even conciliatory — chief executive who showed up.

Trump expressed optimism that he could work with the legislative branch to pass something meaningful — although as NPR's Scott Horsley noted, the president offered scant specifics about what that legislation would be.

President Trump pitched a tax overhaul package on Wednesday in a speech that was heavy on politicking and light on the particulars.

Trump's tax policy ideas are still sketchy — when pitched in April, they amounted to one page of bullet points. In his Wednesday remarks, he didn't add much more detail beyond the broad strokes, saying he wants lower rates for the middle class, a simpler tax code, lower corporate rates and for companies to "bring back [their] money" from overseas to the U.S.

Updated at 5:25 p.m. ET

President Trump called for a major rewrite of the U.S. tax code during a visit to Springfield, Mo., on Wednesday afternoon. The speech came a day after Trump's trip to Harvey-hit Texas and is the first in what is expected to be a series of traveling sales pitches on taxes from the president.

Updated 10 a.m. ET

Escalating tension between Capitol Hill and the White House is threatening the GOP's legislative agenda and testing the bonds of party unity under the Trump administration.

Before any hard battle, it's common to seek a little spiritual guidance.

In preparation for the coming fight this fall to overhaul the entire federal tax code, a group of House Republicans on the Ways and Means Committee traveled this week to Rancho del Cielo — the ranch of former President Ronald Reagan, outside Santa Barbara, Calif.

The ranch is where Reagan signed one of his major tax cuts into law, and the GOP is working this month to capture some of that Reagan-era magic to deliver a modern tax bill of its own.

Updated 5 pm April 3, 2017 to include the proposed Upton amendment.

The House may yet pass its bill to repeal and replace parts of the Affordable Care Act. But Republicans' options to fulfill their seven-year effort to undo the federal health law are getting narrower by the day.

"As of now, they still don't have the votes," said Rep. Pete King (R-N.Y.) as he was leaving a meeting of GOP members Tuesday. King has been heavily lobbied by both sides.

Updated at 4:12 p.m. ET

The Trump administration Wednesday put forth a proposal that it labeled a "massive" tax overhaul, which would give big tax cuts to individuals and corporations and reduce the number of tax brackets and deductions.

Updated 9:45 a.m. ET

The White House is banging the drums that President Trump is doing something big again ahead of his 100th day in office — unveiling a tax "plan."

"This is going to be the biggest tax cut and the largest tax reform in the history of our country," Trump's Treasury Secretary Steve Mnuchin said at a panel Wednesday morning.

President Trump's campaign rallies were defined by three slogans, three syllables each, which the candidate led the crowd in chanting: "Build the wall," condemning illegal immigration; "Lock her up," attacking Democratic rival Hillary Clinton; and "Drain the swamp," all about cleaning up Washington.

If you filed for an extension on your taxes this week, you're right in step with the Trump administration and Republicans in Congress. They've put off voting on their promised tax overhaul until after they take another whack at repealing and replacing Obamacare.

That's got some Republicans concerned, including Stephen Moore, who was an economic adviser to the Trump campaign.

"You know, you've got a period when you're first elected where you've got to rush and get things done before that window slams shut," Moore says.