From Bloomberg, “Rangel Will Overhaul Tax Code ‘Immediately’ After Health Care“:
“Jan. 23 (Bloomberg) — House Ways and Means Committee Chairman Charles Rangel said he will pursue tax reform only after overhauling the health-care system and said “there’s no question” both can be completed by the end of 2010.
“It seems as though the president wants to deal with health care and putting our arms around that is going to be a very, very big job,” Rangel said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing today. “But I would assume immediately following having universal health care we would move into tax reform.”
Rangel continues pushing his admirable goal of reducing the federal corporate tax rate to 28 percent, making it more competitive globally. Good luck, really.
But it’s hard to see how Congress will be inclined to reduce taxes when the federal government is running trillion dollar annual deficits.
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