Tags: pat toomey | tax cut | tax reform

Toomey: Most Americans 'Almost Certainly' Getting Tax Cut

(Fox News)

By    |   Wednesday, 27 September 2017 03:05 PM

Most people will "almost certainly" get a tax cut under a new reform plan being offered by Republicans, Sen. Pat Toomey, a member of the Finance Committee, said Wednesday.

"There is some chance that very high income individuals will not," the Pennsylvania Republican told Fox News' "America's Newsroom" host Bill Hemmer. "I hope everyone gets a tax cut. Certainly, middle class and working class families definitely will get a tax cut."

He said Republicans also hope to bring the corporate tax rate to 20 percent, as that will be "enormously constructive."

"That will help workers because the evidence is very clear a high corporate tax rate comes in part of the expense of the employees of that company," Toomey said.

Senate Minority Leader Chuck Schumer, D-NY, has said that Democrats want to be involved in working on tax reform, and Toomey said Schumer is welcome to work if he wants to.

"It is going to go through the committee," Toomey said. "There are Democrats on the committee. If they want to participate and help constructively they will have every opportunity to do so."

The work will start next week, when the Senate Budget Committee produces a budget allowing work on tax reform, Toomey said.

"That will be a concrete step in the right direction," he said. "There has been an awful lot of work that has gone into — a lot of agreement on what the tax code should look like. Unfortunately we hadn't had that consensus among Republicans on healthcare. I think we're much closer on taxes."

Failure on tax reform, is not an option, even with another Obamacare setback occurring this week, the senator said.

"I'm as disappointed as anyone in America that we weren't successful yet," Toomey said. "It's not over. We'll shift right now to tax reform. We have the momentum and know where we want to go and have a consensus. But it will be difficult and we have to do the hard work now of getting it done."

Toomey said he also has faith in Senate Majority Leader Mitch McConnell to continue leading Republicans in the conference.

"He is going to insist on an open process where every interested member has a chance to weigh in," Toomey said. "That is the right approach and I'm confident we'll get the job done."

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Most people will "almost certainly" get a tax cut under a new reform plan being offered by Republicans, Sen. Pat Toomey, a member of the Finance Committee, said Wednesday.
pat toomey, tax cut, tax reform
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2017-05-27
Wednesday, 27 September 2017 03:05 PM
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