Tags: mike rounds | corporate tax rate | get votes

Sen. Mike Rounds: Set Corp. Tax Rate at 22 Percent if That Gets Votes

(CNBC)

By    |   Thursday, 30 November 2017 01:34 PM

The Senate GOP may alter its corporate tax proposal from 20 percent to 22 percent if that's what it takes to secure the votes, Sen. Mike Rounds, R-S.D., said Thursday.

During an appearance on CNBC's "Squawk Box," Rounds fielded questions about the tax reform legislation that's currently in the Senate chamber.

"The key is to get to 50 [votes] plus one. If we can get 52 in and bring this through the finish line at 52, that's what this is all about, the bottom line," Rounds said.

When asked specifically whether he would favor dropping the corporate tax rate from 35 percent to 22 percent, rather than the current proposal of 35 percent to 20 percent, Rounds admitted the former may need to be the case.

"What I'm saying is if that's what it takes to keep the whole team together, that's where we'll end up at," Rounds said. "Right now, the last discussions we've had have all been based upon the 20 percent rate."

Changes to the corporate tax system have caused at least one lawmaker — Sen. Ron Johnson, R-Wis. — to express his opposition to the GOP's tax reform bill. Johnson would like to see small business owners who lump their business taxes in with their individual taxes to also get a lower rate.

Other lawmakers, such as Sens. Marco Rubio, R-Fla., and Mike Lee, R-Utah, have proposed amendments to the tax bill that would cost money, which they said could be paid for by a 22 percent corporate tax rate.

© 2018 Newsmax. All rights reserved.

   
1Like our page
2Share
Politics
The Senate GOP may alter its corporate tax proposal from 20 percent to 22 percent if that's what it takes to secure the votes, Sen. Mike Rounds, R-S.D., said Thursday.
mike rounds, corporate tax rate, get votes
252
2017-34-30
Thursday, 30 November 2017 01:34 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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