āAbsolutely not,ā Sen. Markwayne Mullin (R-Okla.) said of proposals to raise the corporate tax rate.
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āWe were trying to be competitive on the world stage when we dropped it to 21 percent,ā he said. āTo raise that is not the way to get an economy going.ā
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Some conservatives, notably Rep. Chip Roy (Texas), have floated the idea of raising the corporate tax rate by a few percentage points to ensure the budget reconciliation package Congress plans to pass later this year doesnāt add to the deficit.
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More recently, the House Freedom Caucus has floated a proposal to offset the cost of raising the cap on state and local tax (SALT) deductions for individuals and families by restricting state and local tax deductions for corporations.
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Roy told The Hill in an interview last week that corporate tax increases should be āon the tableā as possible pay-fors to keep Trumpās legislation agenda from adding to the nationās ballooning debt.
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āIām on the record as saying everything should be on the table, and Iām on the record of having said, āWhy should we just allow corporate taxes to stay in place, or think about lowering them, if ā¦ weāre not doing what we need to do on the individual tax rate side or if weāre not balancing the budget or being deficit neutral?āā he said.
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The Hill’s Alex Bolton has more here.
