Tax reform will on the agenda of Congress when it gets back to work next month. Congressman Fred Upton tells WSJM News the Trump administration is expected to send a proposal to the House soon.
“We’re expecting to see a formal policy emerge from the White House literally at Labor Day as soon as Congress returns back into session,” Upton said. “They’ve announced that they’ve got a skeleton that’s ready. They want the flesh to be put on it by the Ways and Means Committee, the committee of jurisdiction in the House.”
Upton tells us the House will try to reduce the corporate tax rate while preserving key deductions. They also want to close loopholes. He says tax reform is one of the major priorities Congress is facing as it returns to work.