Ivanka Trump, Steve Mnuchin to host NH town hall on Tax DayBy PAUL FEELY, New Hampshire Union Leader
April 15. 2018 12:15PM
DERRY – White House sources have confirmed to the New Hampshire Union Leader that Treasury Secretary Steven Mnuchin and Advisor to the President Ivanka Trump will travel to New Hampshire on Tuesday for a town hall discussion on taxes.
Trump will appear alongside Mnuchin at the town hall discussion moderated by former Gov. John Sununu to celebrate Tax Day and highlight the benefits of President Donald Trump’s tax plan for individuals and working families.
According to White House sources, the town hall-style event will take place at the Derry Opera House, located on West Broadway in downtown Derry, Tuesday afternoon. No further information about the event – including who or how many may be in attendance – was available Sunday morning. According to the venue’s website, the Derry Opera House seats up to 350 patrons.
The first daughter’s trip to New Hampshire comes less than a month after Pres. Trump traveled to Manchester in March to unveil a plan to battle the nationwide opioid crisis. That trip marked the president’s first trip to the Granite State since attending a rally at the SNHU Arena on Nov. 7, 2016, the night before the general election. While Trump lost statewide to Hillary Clinton in 2016, election results show him winning in Derry over Clinton.
President Trump's Tax Cuts and Jobs Act allows people to deduct up to 20 percent of "pass-through earnings," where an individual pays taxes on their business's income at the individual income tax rates. Many small-business owners claim their business earnings as pass-through income, as well as real estate investors, accountants, doctors, attorneys and others.
Many large corporations announced bonuses and salary increases after the legislation passed, though some congressional analysts and economists warned the drop in federal revenue would lead to more borrowing in Washington.
Last Monday, the Congressional Budget Office predicted the Trump tax plan and the recently passed bipartisan spending bill will balloon the U.S. deficit in years to come.
The deficit - the amount that Washington’s spending exceeds its revenues - will expand to $804 billion in fiscal 2018, which ends on Sept. 30, up from $665 billion in fiscal 2017, the CBO said.
Growth rates will not offset the deficits, which will “increase rapidly this year and over the next few years,” then stabilize, resulting in a projected cumulative deficit of $11.7 trillion for 2018-2027, the CBO forecast.
Reuters contributed to this report.