Cohn: 'Our opening and final offer are on the table' on taxes

The business tax rates outlined by Republicans in their proposed tax reform blueprint represent the GOP’s “final offer,” White House economic adviser Gary Cohn said Thursday afternoon — unless Democrats are interested in cutting rates even further.

“Our opening offer and our final offer are on the table. We were happy to start at 25 and we're happy to go lower, and we're happy to start at 20 on corporate and go lower,” Cohn told reporters at Thursday’s White House news briefing. “So there's our opening offer. If he wants to counter something lower, we're very negotiable.”


The “he” referred to Senate Minority Leader Chuck Schumer (D-N.Y.), who said in remarks on the Senate floor Thursday that “Democrats understand that small businesses need a break. We will work with our colleagues to do it.” Schumer has otherwise panned the Republican proposal, labeling it “wealthcare” because of what he said are too many benefits for wealthy Americans.

Cohn has said the administration's proposed corporate tax rate of 20 percent, compared with the current 35 percent, allowed "no room to negotiate." He also appeared to refer to a 25 percent proposed rate for so-called pass-through businesses, many of which are small.

While many of the GOP proposal’s provisions are anathema to Democrats’ priorities, Schumer has stopped just short in recent days of saying his party would not work with the Republicans if they were open to negotiating on the plan.