Tags: Donald Trump | marsha blackburn | trump | corporate | tax | rate | cut

Marsha Blackburn: Corporate Tax Cut Would Bring 'Jobs, Jobs, Jobs'

(Fox News)

By    |   Tuesday, 25 Apr 2017 03:55 PM

Rep. Marsha Blackburn, R-Tenn., told Fox News on Tuesday that cutting the corporate tax rate would lead to one of President Donald Trump's goals of creating "jobs, jobs, jobs."

Trump has indicated he will be asking Congress for a cut in the corporate tax rate when he unveils his proposed tax reform changes on Wednesday, but Blackburn said the job falls to Congress to enact the legislation.

"It frees up capital for research, development, for expansion, for wage increases and that is how you get to the president's goal of jobs, jobs, jobs," Blackburn said. "We know that it would be an important step. But remember, the president proposes and Congress disposes. So, there are a lot of steps."

One caveat critics point to is that cutting the corporate tax rate would also increase the federal deficit. Blackburn explained it was due to the way the Congressional Budget Office (CBO) computed the changes.

"Bear in mind, what CBO uses is called static scoring. In other words, you change the policy and they don't think it's going to change behavior. But, what we know is dynamic scoring is what is needed because policy changes do change behaviors," she said.

As for how the middle class would benefit, Blackburn said cutting the cost of doing business would play out in decreased product costs, increased wages, and an increase in business expansion.

At the same time Congress would be working on tax reform changes, lawmakers are also working on changes to the nation's health care law, which some see as needing to take place first. Blackburn indicated that it was all doable.

"I think that what you will see is healthcare go ahead and move over to the Senate. And, at that point the House can go ahead and move forward on tax reform. It's important to realize we can walk and chew gum at the same time," she said.

As for specifics about what Trump will unveil in his tax plan, Blackburn said she had not seen any paperwork on what the president might propose, saying, "We will all find out tomorrow what the president's vision is."

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Rep. Marsha Blackburn, R-Tenn., told Fox News on Tuesday that cutting the corporate tax rate would lead to one of President Donald Trump's goals of creating "jobs, jobs, jobs."
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Tuesday, 25 Apr 2017 03:55 PM
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