Idaho U.S. Senator Jim Risch spoke out in favor of the Senate GOP tax bill Tuesday at a Washington. D.C. press conference, declaring that he wants it to pass to help small businesses.
Risch, the Republican chairman of the Senate Small Business Committee, hosted the gathering that featured Senate Majority Leader Mitch McConnell, Small Business Administration leader Linda McMahon, several GOP members of Risch’s committee, and representatives of business advocacy groups. Risch says the measure reduces the burden on taxpayers and creates an environment that enables families and businesses, particularly small businesses, to thrive.
The Senate GOP tax bill cleared a key test Tuesday afternoon in the Senate Budget Committee, where it passed on a 12-11 party-line vote. Senate Republican leaders hope to bring it to a floor vote this week.
The measure would sharply cut the corporate tax rate and, according to latest Congressional Budget Office estimates, balloon the federal deficit by $1.4 trillion over 10 years. Senate GOP leaders hope to pass it under reconciliation rules that would allow it to pass without support from any Senate Democrats.
Representatives of groups including the National Federation of Independent Business and the American Trucking Association praised the bill, saying it would bring their members tax cuts, simplicity, and certainty. (Spokesman-Review)
