Tags: Trump Administration | Trump Tax Reform | sen collins | tax | deduction | senate | bill

Sen. Collins: 'Very Problematic For Me' if State, Local Tax Deduction is Not In Senate Tax Bill

Sen. Collins: 'Very Problematic For Me' if State, Local Tax Deduction is Not In Senate Tax Bill
(AP)

By    |   Thursday, 30 November 2017 02:43 PM

Sen. Susan Collins, R-Maine, said she is still not on board with the Senate bill to overhaul the tax code by repealing the state and local tax deduction (SALT).

"It would be very problematic for me if the SALT deduction is not in the Senate bill," Collins said to reporters Thursday at a Christian Science Monitor breakfast, according to PBS.

The senator said she had filed an amendment to the Senate bill that would let homeowners have a deduction of up to $10,000 in property taxes.

"I would pay for it by (raising) the corporate rate to 21 percent and keep top individual rate at 39.6 percent for those filing jointly over $1 million. That more than pays for the (property tax deduction)," Collins said, according to PBS.  

The corporate tax rate would be set at 20 percent in the current bill, which Collins criticized. "I don't think we'll end up with 28 or 30 percent — but I don't think we need to go to 20 percent," she said at the Christian Science Monitor event, according to PBS.

After tax reform, Collins predicted that a focus on infrastructure would be next. "I'm excited about that. We need a massive investment in infrastructure in this country," she said, according to the PBS report.

President Donald Trump assured Collins that he would back bipartisan bills that would stabilize Obamacare if the tax plan passes, Collins said Thursday, according to Bangor Daily News.

© 2018 Newsmax. All rights reserved.

   
1Like our page
2Share
Politics
Sen. Susan Collins, R-Maine, said she is still not on board with the Senate bill to overhaul the tax code by repealing the state and local tax deduction (SALT)."
sen collins, tax, deduction, senate, bill, problematic
242
2017-43-30
Thursday, 30 November 2017 02:43 PM
Newsmax Media, 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