U.S. Senator Ron Johnson says he’s still a “no” on a tax overhaul proposal currently before Congress.
The Wisconsin Republican was the first GOP Senator to voice opposition due to his concerns that it could put smaller businesses at a disadvantage. Johnson has questioned allowing larger C-corporation to deduct state and local income taxes and benefit from lower rates, while not affording a similar benefit to pass-through businesses. “That’s a disparity that really won’t stand,” he said.
In a call with reporters Monday, Johnson said he has heard assurances from leadership and the president that they will work to fix concerns about the bill and he’s optimistic they will find a solution – but, he still remains opposed to the tax cut package. “As it is currently written, I’m a no,” he said.
Republicans have been pushing to reform the tax code before the end of the year, and Johnson said he’s believes that does need to happen. “It’s vital that we pass tax reform,” he argued. “We can’t continue in the economic doldrums, we can’t continue to compete with such an uncompetitive tax code…in terms of global businesses.”