Congress is working on tax reform, but Senator Ron Johnson says his chamber is going to work on some fixes from the version provided by the U.S. House.
Johnson stopped in Rhinelander last Friday for a Small Business Forum.
He was asked what the Senate version of tax reform will be...
"....we have to achieve economic growth with this tax reform. I want as many of the deficit increasing dollars of that going toward growing the economy. We have to make American businesses competitive globally but in doing that, lets make sure we don't disadvantage any American businesses competing against each other here. I am concerned about the differentiation between C-corps and Pass Through Entities. We expanding that difference in rates and that is something I'm going to work with my Senate colleagues and fix....."
Johnson says as he talks with small business owners across the state some common themes emerge....
"....same thing I've been hearing for more than six years now, overregulation.. Every group is being harmed by some overregulation by the federal government. It's hard to keep track of all the harm being done by overregulation, but that is one of the things we're trying to address in Washington, D.C...."
Regarding tax reform Congressional Democrats call it a Trojan horse, giving a windfall for big business and the rich dressed as a tax cut for workers. Democrats are hoping to find a way to stop the current packages in the hope of working out a bipartisan deal with President Trump.
