U.S. Senator Ron Johnson of Wisconsin has dealt a major setback to Republicans hoping to pass a tax bill through the Senate. Johnson told The Wall Street Journal on Wednesday that he’s not going to vote for the tax package.
Johnson also issued the following statement regarding the tax reform proposals currently being discussed in Congress:
“We have an opportunity to enact paradigm-shifting tax reform that makes American businesses globally competitive, helps our economy reach its full potential, and creates greater opportunity and bigger paychecks for every American. In doing so, it is important to maintain the domestic competitive position and balance between large publicly traded C corporations and “pass-through entities” (subchapter S corporations, partnerships and sole proprietorships). These businesses truly are the engines of innovation and job creation throughout our economy, and they should not be left behind. Unfortunately, neither the House nor Senate bill provide fair treatment, so I do not support either in their current versions. I do, however, look forward to working with my colleagues to address the disparity so I can support the final version.”
Johnson also told the Journal that the process for developing the bill has been “offensive.” If the slim GOP majority in the senate can pass it without him – Johnson says: “Let them.”
