Tags: ron johnson | fair shake | small businesses | gop | tax bill

Sen. Ron Johnson Wants 'Fair Shake' for Small Businesses in Tax Bill

("New Day"/Twitter)

By    |   Thursday, 16 November 2017 09:16 AM

"Outlier" Sen. Ron Johnson is vexed by the entire Republican urge to pass tax cuts, but he's "not for the current version" of legislation, particularly because of what it would do to small businesses.

The Wisconsin Republican told CNN's "New Day" morning program that he wants pass-through companies to get a "fair shake" in his party's tax bill.

Namely, Johnson wants that 25 percent pass-through rate for small entities - sole proprietorships, partnerships, and S-Corporations — put back into the legislation.

"Problem is, neither the House or the Senate version honor that 25 percent rate. It's far higher and we are leaving those pass-through businesses behind," Johnson told CNN.

"I'm just looking for a fair shake for all businesses to maintain the competitive balance and position of all businesses. Let's not upset that apple cart and harm our economy.

"In the Senate bill, 82 percent of tax relief for businesses goes to C-Corps, only 18 percent go to pass-through entities," Johnson said.

Johnson's not even for giving tax cuts to individuals, breaking with most Republicans, out of concern of what it will do to the deficit.

"I'm a completely [sic] outlier when it comes to what we're doing on the individual side. I just wouldn't do what we're doing," Johnson told CNN. "I never promise anybody tax cuts because I'm one of those deficit hawks. We don't even have enough revenue to pay for all of our expenses today."

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'Outlier' Sen. Ron Johnson is vexed by the entire Republican urge to pass tax cuts, but he's "not for the current version" of legislation, particularly because of what it would do to small businesses.
ron johnson, fair shake, small businesses, gop, tax bill
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2017-16-16
Thursday, 16 November 2017 09:16 AM
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