Tax reform is "much harder than healthcare" because of the philosophical and intellectual challenges, Senate Finance Committee Chairman Orrin Hatch told CNBC on Friday.
"There's no simple formula with regard to American tax reform. It's complex," the Utah Republican said on CNBC.
"It's much harder than healthcare," Hatch said. "It requires a lot of intellectual acumen to be able to handle these matters. Plus there are a lot of differences, differences of opinion on various aspects of the code.
"Democrats want more revenue so they can spend more money. Republicans want less revenue so we can bolster and increase the economy," Hatch said. "Those two philosophies seem to collide all the time. I'm hopeful we can bring both sides together."
Being more difficult than healthcare doesn't bode well, given Republicans' inability to pass legislation to repeal and replace Obamacare.
Hatch, 83, still agrees with the GOP leadership in the House that tax reform can get done this calendar year.
"That would be the right thing to do if we can. I think the House has the right attitude and the right ideas," Hatch said. "I believe we know enough about this that we can do this in 2017."
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