The senator explained to the business leaders that the tax reform is still in the planning process. He told them that the GOP tax reform will improve the economy in Central Pennsylvania.
Toomey reiterated his view that families living in Williamsport will see a pay increase if the Congress will succeed in passing a tax reform legislation. He is “determined” to get it done.
Under the GOP’s unified tax reform framework, the corporate tax rate will decline to 20% from 35%. The tax rate for small businesses will drop 15% to 25%.
According to the senator, “We want to make American Business competitive again.” He emphasized that other countries around the world have tax systems that are more competitive. “We are left behind. It’s time we catch up.”
Furthermore, Toomey said people are reacting too early about the tax reform. He made the statement in response to those who oppose the tax cuts, which they believe are good for the wealthy.
Sen. Toomey said, “It’s not even possible for anyone to come to a conclusion yet about what’s going to happen. I know what our intent is and I feel really good about our intent. I feel really good about how we’re going to get there.”
