Sen. Bob Corker, R-Tenn., voted for the debt limit increase/deficit reduction bill that Congress passed this month. But the spending cuts of up to $2.5 billion included in the bill aren’t enough, he said during a speech in Memphis Monday, the Memphis Flyer
The bill was “kind of like kissing your sister, I guess, not exactly what we had in mind,” but a useful start, Corker said.
He also said the supercommittee charged with suggesting $1.5 trillion of deficit reduction over the next 10 years should address tax reform. Corker supports closing loopholes and possibly “flattening and broadening the tax code” to generate revenue while at the same time cutting the marginal tax rate for most people.
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