Two Senate Republicans balk at lowering top tax rate to 37 percent
Two key Senate Republicans are pushing back on a proposal to lower the top individual tax rate from 39.6 percent to 37 percent, drawing questions about support for the idea.
Sen. Susan Collins (R-Maine) told The New York Times that “I don’t think lowering the top rate is a good idea.”
“I had hoped that the House position, the original House position, would prevail,” she said of language in the House-passed tax-reform bill that would set a 39.6 percent rate for individuals earning more than $500,000 and couples earning more than $1 million.
The Senate-passed bill would set the top rate at 38.5 percent.
Collins said she will wait and “look at the entire conference report and what all the provisions are.”
Sen. Marco Rubio (R-Fla.) also balked at the proposal to lower the top individual rate, which negotiators may pay for by raising the corporate rate in the pending legislation from 20 percent to 21 percent. Details about the tentative agreement emerged earlier Tuesday.
http://thehill.com/homenews/senate/364579-two-senate-republicans-balk-at-lowering-top-tax-rate-to-37-percent
= new reply since forum marked as read
