During his campaign, Donald J. Trump embraced the cause of fiscal responsibility and accused President Barack Obama of shackling the country with a 'mountain of debt.'

Many tax experts say a key element to any fundamental overhaul is getting rid of certain deductions for businesses - the 'special-interest giveaways that are masked as tax breaks,' as House Republicans describe many of them in their own proposal.

Mr. Trump has said he strongly supports immediate expensing of capital expenditures, which many economists agree would encourage growth.

James B. Stewart Quotes