Thursday | October 26, 2017

Sen. Tim Scott: Lawmakers plan to have a detailed tax reform proposal done by Thanksgiving

Sen. Tim Scott said Thursday that lawmakers plan to go through the tax reform proposal in detail so nothing derails the bill from passing.

“Hopefully, there’s nothing that will threaten the passage of this bill, however, there are a number of itemized deductions that people see as a sacred cow,” Mr. Scott, South Carolina Republican, said on CBS News.

“So we’re going to have to go through the process of understanding and appreciating the impact that will have on our ability to lower taxes for the average, hard-working person in the middle class,” he said.

Mr. Scott said he’s “confident” the bill will pass and will not come to the same fate as health care reform, which ultimately did not pass.

“The good news is we’re looking to get this done by Thanksgiving, so folks will have a great opportunity to understand what we’re doing for them by the time we get to the holidays,” he said.

Republicans are in the final stage of passing the budget, which makes way for an easier path to tax reform. Mr. Trump and Republicans have said the tax reform plan will pass by the end of this calendar year.


Source: The Washington Times
Related Issues:  Tax Reform