Cantor: Tax Reform May Mean Higher Payments for Businesses

Wednesday, 27 Apr 2011 02:14 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Tax reform should include a decrease in corporate tax rates, but it may result in higher tax payments by businesses as their loopholes and exemptions are shut down, says House Majority Leader Eric Cantor, The Hill reports.

Eric Cantor,tax reform,corporate tax,Ways and Means Committee,crony capitalist
Eric Cantor
“We're for tax reform," he told CNBC. "And tax reform may result in certain entities, industries ending up paying more under a much-reformed system where there are lower rates."

The idea is to dump "crony capitalist" tax benefits that are now on the books.

"In a reformed tax code, what we're saying is lower the rates, broaden the base, and get rid of the special-interest loopholes," Cantor said.

He said the Ways and Means Committee has begun working on tax reform, which could be included as part of a bargain with Democrats to cut the deficit in return for approving a debt limit increase.




© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Carter Grandson Giving Georgia GOP Gov. Deal a Tough Battle

Tuesday, 16 Sep 2014 19:14 PM

Georgia Republican Gov. Nathan Deal is in a tight race with gubernatorial challenger Jason Carter, who's running with bo . . .

Huckabee's Foreign Policy Talk Signals Possible 2016 Run

Tuesday, 16 Sep 2014 16:59 PM

On Monday, Fox News host and former presidential candidate and Mike Huckabee talked foreign policy for most of a 45-minu . . .

Alison Grimes Is Latest Democrat to Use Gun in Campaign Ad

Tuesday, 16 Sep 2014 16:24 PM

Trying to distance herself from President Barack Obama and court gun-toting voters in her flagging struggle to unseat Se . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved