Tags: tim scott | delay | tax reform | corporate tax rate

Sen. Tim Scott: 1-Year Delay is Better for Corporate Tax Cut

Sen. Tim Scott: 1-Year Delay is Better for Corporate Tax Cut
Sen. Tim Scott (AP)

By    |   Friday, 10 November 2017 04:36 PM

A one-year delay in a cut to the corporate tax rate would be a better option than implementing it immediately, according to Sen. Tim Scott, R-S.C.

"The new corporate tax rate would remain at 20 percent forever. How we achieve that goal includes that one-year delay," Scott said Friday on "Fox & Friends," according to the Washington Times.

Business owners understand the need for the delay, Scott said in the "Fox & Friends" interview, according to the Washington Times.

Senate Democrats have weighed in against the corporate tax cut, and also against the elimination of state and local tax deductions.

"This is a place where we're going to have to find some common ground—getting there we will. But the fact is that for the vast majority of the country, that $1.3 trillion could be spent equitably across the tax code by taxpayers across the country," Scott said in the "Fox & Friends" interview, The Times reported.

"We haven't made that decision ultimately on that delay. There's a lot of pressure to do it now," Scott said in a Friday CNN report.

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A one-year delay in a cut to the corporate tax rate would be a better option than implementing it immediately, according to Sen. Tim Scott, R-S.C.
tim scott, delay, tax reform, corporate tax rate
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2017-36-10
Friday, 10 November 2017 04:36 PM
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