Senator Chuck Grassley is hopeful congress can vote on tax reform after Thanksgiving.
The Senate Finance Committee marked up their version of the tax reform bill Tuesday. The bill is known as the Tax Cuts and Jobs Act. Grassley says he’ll represent the family farmer as the bill moves forward.
“Tax reform will help farmers in rural America and have a lower rate on investments they make. That will allow them to spend more money to invest in their businesses and communities instead of sending it to Washington.”
He is one of three Republicans on the committee.
Once both chambers agree on a bill, Grassley hopes the conference committee will consider eliminating the death tax.
“I support something (Iowans) want to leave alone and I can argue for it like I would argue for the elimination of the estate tax but we’ve screwed up this tax code so bad over the last 30 years, we have to pass simplification and tax cuts regardless if it’s exactly what I want.”
Senate Finance Committee ranking member Democrat Ron Wyden of Oregon says, “Senate Republicans are doubling down on their gamble with middle class family budgets to pay for massive handouts to big corporations and tax cheats,” said Wyden.
“Democrats and Republicans alike believe the tax code is broken and needs to be fixed. Wyden told the administration tax reform could be bipartisan if you focus on the middle class, the voters went the polls and demanded it.