November 2, 2017 / 5:13 PM / a month ago

UPDATE 1-Trump supports Republican tax overhaul bill -advisor

(Adds Cohn’s comments on budget scoring)

WASHINGTON, Nov 2 (Reuters) - U.S. President Donald Trump supports the tax overhaul bill unveiled on Thursday by Republicans in the House of Representatives, a top White House advisor said.

“The bill that the House has delivered today ... is a bill that the president can support,” National Economic Council director Gary Cohn told a gathering of the Economic Club of Washington, adding that he was confident the House would approve a tax overhaul.

“If it delivers middle class tax relief and a 20 percent corporate tax rate and it shows up on his desk I can guarantee he’s going to sign it,” Cohn said.

Republicans pushing the tax bill will have to accept the assessments of budget analysts who may not share the White House’s views on how the tax bill could increase some tax revenues by fostering growth in the economy, Cohn said.

“We have to accept the score to get the legislation through,” he said. “We will legislate to a bill to get the score that we need to get it through the legislative process.” (Reporting by Jason Lange; Editing by Andrew Hay and Andrea Ricci)

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