PHILADELPHIA (CBS) — Senator Pat Toomey is among several Republicans meeting Monday with President Trump as the Senate pushes for a vote this week on tax reform. GOP leaders hope they can send a bill to the Oval Office by Christmas, but there are significant hurdles.
Senate Republicans are not yet sold on their party’s tax overhaul now have the Congressional Budget Office estimate to consider: a $1.4 trillion budget deficit increase in the 10 years after the bill is passed.
The leadership doesn’t buy the CBO score. And Pennsylvania’s Pat Toomey says the focus of their plan is to provide relief.
“For hard-working, middle-income and lower-income families,” Toomey said. “That’s definite.”
Democrats counter with criticisms that the bill would end popular breaks like the state and local tax deduction and could mean some would end up paying more to Uncle Sam. Democrats also rail against cutting the corporate tax rate, but Senator Toomey calls it a critical component of reform.
“So that our workers and our businesses can do more business, can have a greater share of this global economy,” he said, “and thereby create more jobs and put upward pressure on wages.”