By Nick Gale, WLS-AM 890 News
(WASHINGTON) — Senate Democrats say the Republican tax plan is geared towards helping big business, but in the House, U.S. Rep. Adam Kinzinger (R-Channahon) says there is a valid reason for business tax reforms.
“[Businesses] are leaving because [other countries] have a better tax rate and we can do one of two things; we can either demonize companies that leave, in which case more companies will still leave, or we can actually make ourselves attractive to these companies to stay and that’s what the United States has been so good at for decades, is making ourselves attractive to be the world leader in companies,” Kinzinger said Wednesday.
Kinzinger says that two years ago, then-President Obama was talking about cutting corporate tax rates. Obama first talked about such a plan in 2012 when he proposed lowering the rate from 35-percent to 28-percent but also close loopholes that enable businesses to pay far less taxes. Obama contended that doing so would actually increase overall revenue from corporate taxation.
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