Top GOP Senator Stands Defiantly in Opposition to Trump's Tax Reform Bill
As Congress takes the driver’s seat in advancing President Donald Trump’s tax plan, a fierce lobbying battle is about to begin as people try to keep special tax breaks from being eliminated, a top Senate Republican said on Sunday.
Four days after Trump released a landmark tax reform proposal, members of his administration deflected questions about who specifically will pay lower taxes. Treasury Secretary Steven Mnuchin and Office of Management and Budget Director Mick Mulvaney said Congress’ tax-writing committees now have to get into the knotty details.
As that process begins, lobbyists will be fighting to protect trillions of dollars in special tax breaks for various business sectors and individuals, said Sen. Bob Corker, speaking on NBC’s "Meet the Press."
“Every lobbyist in the world is going to be up here fighting those,” the Tennessee Republican said. If those lobbyists successfully twist arms in Congress, the deficit might explode as a result of the tax legislation, he said.
Corker — who announced last month he will not run for reelection in 2018 — has said he will not vote for a tax reform bill that adds to the deficit.
In the budding tax plan, “I am willing to accept a reasonable score on dynamic growth,” said Corker referring to a budget measuring technique that includes an estimate of the potential economic boost to the economy from tax cuts.
Still, if the tax legislation looks as if it would add “one penny to the deficit,” Corker said he would oppose it.
“Everyone was a fiscal hawk, kind of, not really, but kind of up until the election,” Corker said of congressional Republicans. “Now it’s like there is a party going on up here.”