Valley Congress members see tax reform differently - WFMJ.com News weather sports for Youngstown-Warren Ohio

Valley Congress members see tax reform differently

Posted: Updated:
MAHONING COUNTY, Ohio -

As a holiday break and the end of the year get closer, Congress continues to wrestle with a tale of two tax plans.

Congress is bracing for a tax battle as House and Senate Republicans are pushing their own versions of tax reform.  

The Senate bill would eliminate state and property tax deductions, but keep deductions for medical expenses not included in the House plan. It would also delay corporate tax cuts until 20-19.

Ohio Senator Rob Portman says he is excited about this tax reform.  "Because for the first time in 30 years we're going to reform the code that provides a middle-class tax cut which is important, but also encourages more investment for more jobs, more earnings and improved economy," said Portman

Democratic Congressman Tim Ryan sees things differently. "Right now the corporations are flush with money. It's the working class that hasn't seen a raise in 30 years, so I think they're going about it the wrong way," Ryan said.

Both the House and Senate GOP plans promise relief for the middle class and a simplified tax code, but Ryan feels that the funding formula is flawed.

"My main concern is we are borrowing, if they pass this plan,  two-trillion dollars from primarily from the Chinese to pay for a tax cut that will go primarily to the wealthiest people in the country, and I just don't think we can afford to do that," the Congressman said.

Many see the battle over tax reform as high stakes politics, with two plans and little time to get something done.            

Powered by Frankly
All content © Copyright 2000 - 2017 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms