PHILADELPHIA (CBS) — White House Budget Director Mick Mulvaney said Thursday that the White House is “indifferent” to the Senate’s proposal to delay the corporate tax cut until 2019.
“From a business perspective, it is actually very compelling that leaving the 35 percent corporate rate for the first year, would actually encourage more investment in 2018 not less,” Mulvaney told The Rich Zeoli Show on 1210 WPHT. “Companies would still be allowed to do 100 percent immediate expensing of that investment, and you get a 35 percent return on your money instead of a 20 percent return on your money, so there’s a really good argument that its better for capital investment then immediately going to 20 percent”.
Mulvaney was asked about the differences between the House and Senate versions of the tax bill after the Senate version was released this afternoon.
“It was different in some important areas from the House, but not so different as to raise a red flag that we wouldn’t be able to able to reconcile these two things,” he said. “The basic fundamental principals are the same across both bills and are still very much in line with where the White House wants to see them.”