Congressman Mark Meadows on Tuesday put his tax reform bull’s-eye on a corporate tax rate of 20 percent or he won’t for it, the Washington Examiner reported.
“If the corporate rate is above 20 percent and if the small business rate is above 24 percent, I would vote against it,” Meadows, R-NC, head of the Freedom Caucus said Tuesday, the Examiner reported.
Meadows has not wavered from his position, having been pretty outspoken about reducing the country’s current corporate tax rate of 35 percent, fourth highest in the world, down to 15 percent — 20 percent.
Further, Meadows is on solid ground; President Donald Trump has been beating the drum all along to get the corporate tax rate down to 15 percent.
However, Senate Finance Chairman Orrin Hatch isn’t quite sure 15 percent is achievable.
“We’ll be working to try to do that. I sincerely doubt that we’ll be able to get to that level on the corporate tax rates,” Hatch said recently.
Taxes — cuts and/or reform — is next on the agenda for congressional Republicans now that healthcare seems to be dead — again.
The president is expected to unveil a tax reform plan this week.