Senators Ron Wyden (D-OR) and Judd Gregg (R-NH) on Morning Joe this morning talked up their Bipartisan Plan for Tax Fairness. Here are the highlights:
- Wyden said the plan is essentially a jobs program because it reduces corporate rates to a flat 24% while at the same time eliminating the corporate tax deferral on invested foreign profits. This, he suggested, will result in the return to America of exported jobs.
- Gregg said the plan “levels the playing field” on deductions and credits while at the same time lowering middle-class tax rates.
- Gregg sounded the alarm on the rising deficits:
Our government is not on a sustainable path right now. We’re headed toward insolvency.
- Wyden, when asked if he thought it was possible to get bipartisan support for the measure, said,
Everybody bets against tax reform until fifteen minutes before it happens.
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1 Charlie Scott // Feb 24, 2010 at 7:21 pm
I’d be interested in hearing your thoughts on this subject in a future blog post if its any interest to you!?
http://www.latimes.com/business/la-fi-hiltzik24-2010feb24,0,5865964.column
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