WASHINGTON DC (WKBN) – One of the priorities of President Donald Trump is to change the tax code and reduce the business tax rate. Valley Congressman Tim Ryan says he could get on board with that idea under certain conditions.
The President wants the rates dropped to 15 percent. The idea is that businesses would keep jobs here in the U.S. instead of going overseas.
But Congressman Ryan says tax reform needs to benefit small businesses and middle class workers.
“Right now, the biggest corporations don’t pay the corporate tax,” he said. “Smaller business will pay 20, 25, 30 25 percent in corporate taxes. To me, that’s totally unfair.”
Ryan wants a more progressive rate structure and the tax loopholes eliminated. Republican leaders say their goal is to pass a tax reform bill before the end of the year.