Ryan, Trump team discuss border tax at Capitol Hill meetingWASHINGTON (Reuters) - U.S. House of Representatives Speaker Paul Ryan and top members of President-elect Donald Trump’s transition team on Monday discussed a controversial plan to tax imports during an evening meeting on Capitol Hill, a Trump adviser said. Trump’s incoming chief strategist Stephen Bannon said the meeting examined two provisions of Ryan’s “Better Way” tax reform blueprint, including a border-adjustability measure intended to boost U.S. manufacturing by taxing imports while exempting U.S. business export revenues from corporate taxation. The discussion also focused on a House “territorial” tax proposal that would end U.S. taxation on the foreign profits of U.S.-based multinationals, Bannon told reporters as more than a half-dozen Trump transition team members left the 2-1/2 hour meeting. Bannon said the discussion involved “working through” border adjustability and added that the territorial measure was “also what this meeting’s about. Start working through it, make sure everybody understands it and is on the same page.” Some tax experts believe Trump has signalled his support for the border adjustability provision in recent tweets warning that companies including automakers could face a border tax if they expand manufacturing abroad and ship products back to the U.S. market.  Trump and Ryan agree that tax reform should reduce tax rates for individuals and businesses, do away with longstanding tax loopholes and broaden the tax base in order to drive U.S. economic growth. Advocates say the House Republican border-adjustability measure could help Trump meet his pledge of boosting manufacturing jobs in the United States. It would also pay for lower tax rates by raising more than $1 trillion in revenues over 10 years, analysts say.  But some industries including retailers, automakers and oil refiners claim it would raise consumer prices by making exports more expensive. Other critics say it could be vulnerable to a  challenge before the World Trade Organization. House Republicans say their territorial provision would bring the United States into line with other countries that do not tax their business’s foreign profits.  Up to now, Trump has favored maintaining the current U.S. tax system, which taxes U.S. earnings abroad but allows companies to defer taxes until profits are returned. U.S. corporations have sought to avoid the tax by stashing about $2.6 trillion in earnings overseas.   Also attending Monday’s meeting with Ryan and his staff were Trump’s son-in-law Jared Kushner, Treasury Secretary-nominee Steven Mnuchin, incoming chief of staff Reince Priebus and National Economic Council Director Gary Cohn. politicsNews
ryan trump team discuss border tax capitol hill meetingwashington reuters house representatives speaker paul ryan top members donald trump transition team monday discussed controversial plan tax imports evening meeting capitol hill trump adviser said trump incoming chief strategist stephen cannon said meeting examined two provisions ryan better way tax reform blueprint including measure intended boost manufacturing taxing imports exemption business export revenues corporate taxation the discussion also focused house territorial tax proposal would end taxation foreign profits multinational cannon told reporters trump transition team members left hour meeting cannon said discussion involved working border adjustability added territorial measure also meeting start working make sure everybody understands some tax experts believe trump signalled support border adjustability provision recent tweets warning companies including automakers could face border tax expand manufacturing abroad ship products back market trump ryan agree tax reform reduce tax rates individuals businesses away longstanding tax loopholes broaden tax base order drive economic growth advocates say house republican measure could help trump meet pledge boosting manufacturing jobs united states it would also pay lower tax rates raising trillion revenues years analysts say but industries including retailers automakers oil refinery claim would raise consumer prices making exports expensive other critics say could vulnerable challenge world trade organization house republicans say territorial provision would bring united states line countries tax business foreign profits up trump favored maintaining current tax system taxes earnings abroad allows companies defer taxes profits returned corporations sought avoid tax smashing trillion earnings overseas also attending monday meeting ryan staff trump jared pusher treasury steven mnuchin incoming chief staff rence priests national economic council director gary con 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: Ryan, Trump team discuss border tax at Capitol Hill meetingWASHINGTON (Reuters) - U.S. House of Representatives Speaker Paul Ryan and top members of President-elect Donald Trump’s transition team on Monday discussed a controversial plan to tax imports during an evening meeting on Capitol Hill, a Trump adviser said. Trump’s incoming chief strategist Stephen Bannon said the meeting examined two provisions of Ryan’s “Better Way” tax reform blueprint, including a border-adjustability measure intended to boost U.S. manufacturing by taxing imports while exempting U.S. business export revenues from corporate taxation. The discussion also focused on a House “territorial” tax proposal that would end U.S. taxation on the foreign profits of U.S.-based multinationals, Bannon told reporters as more than a half-dozen Trump transition team members left the 2-1/2 hour meeting. Bannon said the discussion involved “working through” border adjustability and added that the territorial measure was “also what this meeting’s about. Start working through it, make sure everybody understands it and is on the same page.” Some tax experts believe Trump has signalled his support for the border adjustability provision in recent tweets warning that companies including automakers could face a border tax if they expand manufacturing abroad and ship products back to the U.S. market.  Trump and Ryan agree that tax reform should reduce tax rates for individuals and businesses, do away with longstanding tax loopholes and broaden the tax base in order to drive U.S. economic growth. Advocates say the House Republican border-adjustability measure could help Trump meet his pledge of boosting manufacturing jobs in the United States. It would also pay for lower tax rates by raising more than $1 trillion in revenues over 10 years, analysts say.  But some industries including retailers, automakers and oil refiners claim it would raise consumer prices by making exports more expensive. Other critics say it could be vulnerable to a  challenge before the World Trade Organization. House Republicans say their territorial provision would bring the United States into line with other countries that do not tax their business’s foreign profits.  Up to now, Trump has favored maintaining the current U.S. tax system, which taxes U.S. earnings abroad but allows companies to defer taxes until profits are returned. U.S. corporations have sought to avoid the tax by stashing about $2.6 trillion in earnings overseas.   Also attending Monday’s meeting with Ryan and his staff were Trump’s son-in-law Jared Kushner, Treasury Secretary-nominee Steven Mnuchin, incoming chief of staff Reince Priebus and National Economic Council Director Gary Cohn. 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: ryan trump team discuss border tax capitol hill meetingwashington reuters house representatives speaker paul ryan top members donald trump transition team monday discussed controversial plan tax imports evening meeting capitol hill trump adviser said trump incoming chief strategist stephen cannon said meeting examined two provisions ryan better way tax reform blueprint including measure intended boost manufacturing taxing imports exemption business export revenues corporate taxation the discussion also focused house territorial tax proposal would end taxation foreign profits multinational cannon told reporters trump transition team members left hour meeting cannon said discussion involved working border adjustability added territorial measure also meeting start working make sure everybody understands some tax experts believe trump signalled support border adjustability provision recent tweets warning companies including automakers could face border tax expand manufacturing abroad ship products back market trump ryan agree tax reform reduce tax rates individuals businesses away longstanding tax loopholes broaden tax base order drive economic growth advocates say house republican measure could help trump meet pledge boosting manufacturing jobs united states it would also pay lower tax rates raising trillion revenues years analysts say but industries including retailers automakers oil refinery claim would raise consumer prices making exports expensive other critics say could vulnerable challenge world trade organization house republicans say territorial provision would bring united states line countries tax business foreign profits up trump favored maintaining current tax system taxes earnings abroad allows companies defer taxes profits returned corporations sought avoid tax smashing trillion earnings overseas also attending monday meeting ryan staff trump jared pusher treasury steven mnuchin incoming chief staff rence priests national economic council director gary con politicsnews