Trump extols corporate profits while seeking corporate tax cutWASHINGTON (Reuters) - U.S. President Donald Trump sent a Twitter message bragging about corporate America’s high profits under his presidency on Tuesday, prompting critics to say he was undercutting Republican arguments in favor of a tax cut for corporations. As Republicans in Washington try to refocus on taxes after the collapse of their failed drive to repeal Obamacare, Trump sent a morning tweet that said: “Corporations have NEVER made as much money as they are making now.” Corporate lobbyists and Republicans consistently argue that a cut in the corporate income tax is needed to help corporations be more competitive. But highlighting corporate profits could diminish that argument. “This is a weird way to launch their proposal to cut corporate taxes,” Democratic Senator Brian Schatz said in a tweet of his own responding to Trump. The largest U.S. public companies have seen profits accelerate in 2017, with quarterly earnings rising at a double-digit pace compared with a year ago, according to Thomson Reuters data. Full-year earnings are expected to be up 11.5 percent, which would be the strongest growth since 2011. More than six months into his presidency, Trump still sends out tweets that catch aides and allies off guard and sometimes clash with Republicans’ messaging on their policy agenda. The Trump tweet “takes the edge of urgency off the plea to reduce the burden on corporations,” said William Galston, a senior fellow at the Brookings Institution think tank. Trump later took credit for surging U.S. stock prices that pushed the Dow Jones Industrial Average to a new record high on Tuesday. But the broader market saw a bigger rally under former President Barack Obama. The benchmark S&P 500 Index has gained 9.4 percent since Trump took office on Jan. 20, lagging a 16.2 percent S&P gain during Obama’s first months in office. Senate Republican leader Mitch McConnell said on Tuesday that Congress would take up tax reform after the U.S. Labor Day holiday on Sept. 4, beginning in the House of Representatives. A White House timeline envisions a House vote on tax legislation in October and Senate vote in November.  But there is little consensus on the issue. The White House insists on cutting the corporate rate to 15 percent, while House Republicans favor 20 percent. A top Senate Republican this week said lawmakers would be lucky to get it down to 25 percent.   On Tuesday, Senate Democrats offered to work with Republicans on a bipartisan tax package, but only if it does not cut taxes for the wealthy, add to the federal deficit or allow Republicans to enact legislation on their own. But McConnell rejected the offer from 45 lawmakers led by Senate Democratic leader Chuck Schumer. “Most of the principles that would get the country growing again, they’re not interested in addressing,” the Kentucky Republican told reporters.  McConnell said he hoped Republican legislation might win support from three Senate Democrats who face reelection next year in Republican states and did not join the offer from other Democrats. politicsNews
trump extras corporate profits seeking corporate tax cutwashington reuters president donald trump sent twitter message bragging corporate america high profits presidency tuesday prompting critics say undercutting republican arguments favor tax cut corporations as republicans washington try focus taxes collapse failed drive repeal obamacare trump sent morning tweet said corporations never made much money making corporate lobbyists republicans consistently argue cut corporate income tax needed help corporations competitive but highlighting corporate profits could diminish argument this weird way launch proposal cut corporate taxes democratic senator brian chat said tweet responding trump the largest public companies seen profits accelerate quarterly earnings rising pace compared year ago according thomson reuters data earnings expected percent would strongest growth since more six months presidency trump still sends tweets catch aides allies guard sometimes clash republicans messaging policy agenda the trump tweet takes edge urgency plea reduce burden corporations said william gallon senior fellow bookings institution think tank trump later took credit urging stock prices pushed dow jones industrial average new record high tuesday but broader market saw bigger rally former president barack obama the benchmark s p index gained percent since trump took office lagging percent s p gain obama first months office senate republican leader mitch mcconnell said tuesday congress would take tax reform labor day holiday beginning house representatives a white house timeline envision house vote tax legislation october senate vote november but little consensus issue the white house insists cutting corporate rate percent house republicans favor percent a top senate republican week said lawmakers would lucky get percent on tuesday senate democrats offered work republicans bipartisan tax package cut taxes wealthy add federal deficit allow republicans enact legislation but mcconnell rejected offer lawmakers led senate democratic leader chuck scheme most principles would get country growing interested addressing kentucky republican told reporters mcconnell said hoped republican legislation might win support three senate democrats face reelection next year republican states join offer democrats politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Trump extols corporate profits while seeking corporate tax cutWASHINGTON (Reuters) - U.S. President Donald Trump sent a Twitter message bragging about corporate America’s high profits under his presidency on Tuesday, prompting critics to say he was undercutting Republican arguments in favor of a tax cut for corporations. As Republicans in Washington try to refocus on taxes after the collapse of their failed drive to repeal Obamacare, Trump sent a morning tweet that said: “Corporations have NEVER made as much money as they are making now.” Corporate lobbyists and Republicans consistently argue that a cut in the corporate income tax is needed to help corporations be more competitive. But highlighting corporate profits could diminish that argument. “This is a weird way to launch their proposal to cut corporate taxes,” Democratic Senator Brian Schatz said in a tweet of his own responding to Trump. The largest U.S. public companies have seen profits accelerate in 2017, with quarterly earnings rising at a double-digit pace compared with a year ago, according to Thomson Reuters data. Full-year earnings are expected to be up 11.5 percent, which would be the strongest growth since 2011. More than six months into his presidency, Trump still sends out tweets that catch aides and allies off guard and sometimes clash with Republicans’ messaging on their policy agenda. The Trump tweet “takes the edge of urgency off the plea to reduce the burden on corporations,” said William Galston, a senior fellow at the Brookings Institution think tank. Trump later took credit for surging U.S. stock prices that pushed the Dow Jones Industrial Average to a new record high on Tuesday. But the broader market saw a bigger rally under former President Barack Obama. The benchmark S&P 500 Index has gained 9.4 percent since Trump took office on Jan. 20, lagging a 16.2 percent S&P gain during Obama’s first months in office. Senate Republican leader Mitch McConnell said on Tuesday that Congress would take up tax reform after the U.S. Labor Day holiday on Sept. 4, beginning in the House of Representatives. A White House timeline envisions a House vote on tax legislation in October and Senate vote in November.  But there is little consensus on the issue. The White House insists on cutting the corporate rate to 15 percent, while House Republicans favor 20 percent. A top Senate Republican this week said lawmakers would be lucky to get it down to 25 percent.   On Tuesday, Senate Democrats offered to work with Republicans on a bipartisan tax package, but only if it does not cut taxes for the wealthy, add to the federal deficit or allow Republicans to enact legislation on their own. But McConnell rejected the offer from 45 lawmakers led by Senate Democratic leader Chuck Schumer. “Most of the principles that would get the country growing again, they’re not interested in addressing,” the Kentucky Republican told reporters.  McConnell said he hoped Republican legislation might win support from three Senate Democrats who face reelection next year in Republican states and did not join the offer from other Democrats. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: trump extras corporate profits seeking corporate tax cutwashington reuters president donald trump sent twitter message bragging corporate america high profits presidency tuesday prompting critics say undercutting republican arguments favor tax cut corporations as republicans washington try focus taxes collapse failed drive repeal obamacare trump sent morning tweet said corporations never made much money making corporate lobbyists republicans consistently argue cut corporate income tax needed help corporations competitive but highlighting corporate profits could diminish argument this weird way launch proposal cut corporate taxes democratic senator brian chat said tweet responding trump the largest public companies seen profits accelerate quarterly earnings rising pace compared year ago according thomson reuters data earnings expected percent would strongest growth since more six months presidency trump still sends tweets catch aides allies guard sometimes clash republicans messaging policy agenda the trump tweet takes edge urgency plea reduce burden corporations said william gallon senior fellow bookings institution think tank trump later took credit urging stock prices pushed dow jones industrial average new record high tuesday but broader market saw bigger rally former president barack obama the benchmark s p index gained percent since trump took office lagging percent s p gain obama first months office senate republican leader mitch mcconnell said tuesday congress would take tax reform labor day holiday beginning house representatives a white house timeline envision house vote tax legislation october senate vote november but little consensus issue the white house insists cutting corporate rate percent house republicans favor percent a top senate republican week said lawmakers would lucky get percent on tuesday senate democrats offered work republicans bipartisan tax package cut taxes wealthy add federal deficit allow republicans enact legislation but mcconnell rejected offer lawmakers led senate democratic leader chuck scheme most principles would get country growing interested addressing kentucky republican told reporters mcconnell said hoped republican legislation might win support three senate democrats face reelection next year republican states join offer democrats politicsnews