Tags: Trump Administration | Trump Tax Reform | roy blunt | senate | tax bill | tax cuts

Sen. Roy Blunt: Senate Tax Plan to Delay Some Cuts

Sen. Roy Blunt: Senate Tax Plan to Delay Some Cuts
Sen. Roy Blunt, R-Mo. (Ron Sachs/AP)

By    |   Wednesday, 08 November 2017 06:20 PM

Sen. Roy Blunt said Wednesday the forthcoming Senate Republican tax plan was likely to be without many of the reforms put forth in the House proposal unveiled last week.

"We will, at the end of the day, leave some of these reforms for next year," the Missouri Republican told Wolf Blitzer on CNN, "just because they get in the way of the real important need to have better tax policy this year to grow our economy next year."

The Senate Finance Committee is expected to release its tax-reform plan Thursday.

It reportedly will delay a sharp reduction in the corporate tax rate for one year, saving about $100 billion, and eliminate both the state and local tax deductions for families.

President Donald Trump has called for an immediate reduction in the corporate rate from 35 percent to 20 percent.

Regarding the drop in the corporate rate, Blunt told Blitzer "our lower corporate rates are going to build jobs and make better jobs.

"It also doesn't mean we can't look at tax cuts for working families.

"But some of these intricate things are going to have to be worked through."

He said Republicans should focus on getting a basic tax-reform package passed and then revisit other more controversial elements later.

"My view during this whole debate has been we shouldn't spend a lot of time on any argument we can't win," Blunt said. "There is always a chance to look at that again.

"But there won't be a chance to rejuvenate this economy and give the first real pay raise, the take-home pay raise, to working families they've had in eight years.

"Families are frustrated," Blunt said, noting the broad Democratic victories in Tuesday's elections.

"You see a lot of frustration out there," he added. "There is something going on where people are looking for answers."

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The Senate Republican tax plan, set to be revealed Thursday, is likely to be without many of the reforms put forth in the House proposal unveiled last week, Sen. Roy Blunt said Wednesday.
roy blunt, senate, tax bill, tax cuts
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2017-20-08
Wednesday, 08 November 2017 06:20 PM
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