Arizona's Congressional Contingent Weighs In On Tax Reform Proposals
Arizona’s congressional contingent is weighing on tax cut proposals being floated by the Trump administration. It’s the closest thing to bipartisan agreement you’ll find in Washington these days.
Amidst the daily stream of headlines from the White House, tax reform has gotten lost in the shuffle.
But members of Congress are trying to keep the focus on the issue, including Arizona’s senior Sen. John McCain, who believes it would help repatriate money from abroad.
“Corporate taxes should be cut. They’re the highest in the world. To just assume it’s gonna increase the deficit, that historically is not true. When we had the Reagan tax cuts, it stimulated the economy and we had the greatest recovery in 30 years," McCain said.
Democrats like Rep. Krysten Sinema say that’s up for debate. But she feels everyone, not just corporations, deserve tax cuts.
“I support a tax reform proposal that’s comprehensive, but it’s important that we not add to the deficit. And it remains to be seen what this proposal will look like," Sinema said.
A report released last week by the Institute on Taxation and Economic Policy calculated that the proposed tax cuts would provide the richest one percent of Arizonans with 60 percent of the savings.