Tags: senate | republicans | noncommercial | pay | tax rate | reductions

Senate GOP Noncommittal on How to Pay for Tax Rate Reductions

Image: Senate GOP Noncommittal on How to Pay for Tax Rate Reductions
(Photo by Mark Reinstein/Corbis via Getty Images)

Tuesday, 30 May 2017 03:04 PM

Something has to give in order to pay for President Donald Trump's proposed massive corporate tax rate reductions, and thus far, there is no support among Senate Republicans to ditch tax breaks to do it, the Washington Examiner reported.

In fact, Senate Republicans have not endorsed any proposal on how to pay for the tax cuts or proffered any plan of their own.

House Republicans — especially Speaker Paul Ryan — have put skin in the game on how to enable Trump's wish to get down to a 20 percent corporate tax rate (though he wants 15) without further exacerbating the federal deficit, but Senate Republicans have panned all of them.

Every plan has its drawbacks and Senate Republicans seem to loathe all of them.

“That's obviously one of the problems you have with any kind of tax reform, is everybody loves their tax preference," said Sen. Ron Johnson, R-Wis.

Not exactly the path to pass tax reform before the end of the calendar year, as suggested by Ryan.

Trump tweeted Tuesday that the Senate should blow out the filibuster so that it can bypass Democrats and pass tax breaks "fast and easy."

It's clear Senate Republicans don't have a "fast and easy" plan yet themselves.

© 2017 Newsmax. All rights reserved.

   
1Like our page
2Share
Politics
Something has to give in order to pay for President Donald Trump's proposed massive corporate tax rate reductions, and thus far, there is no support among Senate Republicans to ditch tax breaks to do it, the Washington Examiner reported.
senate, republicans, noncommercial, pay, tax rate, reductions
233
2017-04-30
Tuesday, 30 May 2017 03:04 PM
Newsmax 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