Republican senator opposes making temporary tax cuts permanent
WASHINGTON (Reuters) - A senior U.S. Republican senator said on Wednesday he would strongly oppose any plan to make permanent the temporary individual tax cuts that are included in a tax overhaul recently passed by Congress.
“It’s transparently political and bad for our nation,” Senator Bob Corker told reporters at a breakfast sponsored by the Christian Science Monitor. He called the idea “grotesque.”
Republican leaders in the U.S. Congress are moving forward with a plan to vote, before the 2018 midterm elections, on a bill to make permanent the temporary individual tax cuts in their recent tax overhaul.
It is not yet clear, however, if the plan would pick up support from Democrats, whose votes would be needed to pass legislation in the Senate. Corker’s comments indicated that the plan would also face resistance from some Republicans.
Reporting by Patricia Zengerle; Editing by Bernadette Baum
By Kitco NewsFor Kitco News
Follow @kitconewsnow
news@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.