Budget deal will be inside bag, tax reform still a question

Sen. Jeff Flake said Thursday he’s confident lawmakers will approve a budget deal seen as crucial to helping fellow Republicans pass tax reform.

The budget legislation, up for a vote inside Senate on Thursday, could permit Republicans to pass follow-up tax cuts later This specific year.

“I think on the budget deal which’s inside bag,” Flake said on CNBC’s “Squawk Box.” “although whether or not we can get to tax reform, we’re going to see over the next couple of months.”

President Donald Trump commented Thursday on the budget deal, calling “which the first step toward massive tax cuts.”

“I think we possess the votes, although who knows?” he wrote on Twitter.

The GOP unveiled its blueprint for tax reform last month. which calls for cutting personal along with corporate tax rates along with aims to simplify the U.S. tax code.

In order for the U.S. to be competitive, lawmakers must reduce the corporate tax rate, said Flake, a Trump critic who will be facing a tough battle in Arizona’s 2018 primary. The Republican tax bill should provide real reform along with not just a tax cut, he added.

“Reform involves broadening the base. along with which involves getting rid of some very well-known credits along with deductions along with loopholes,” Flake said. “When you add all the credits, deductions along with loopholes … which equals more than our entire discretionary budget.”

Flake also agreed with remarks by Treasury Secretary Steven Mnuchin, who said which which’s difficult “not to give tax cuts to the wealthy.”

“which’s obviously a tough political sell,” Flake said.

—The Associated Press contributed to This specific report.

Leave a Reply

Your email address will not be published.

twenty + 20 =