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FBN's Rich Edson breaks down views of Democrats and Republicans on reforming the corporate tax code.
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Part of -- -- set to return from their recess next week members of congress seem to have their sites at this point set on tax reform.
-- Jetsons that would help House Budget Committee ranking member Chris van Holland and have him just what policies are in the cross hairs.
The top pop -- part of the Republicans and Democrats on corporate tax reform.
Well they're not exactly close Republicans are writing a proposal to drop the top rate from 3525%.
In the lead tax negotiator for house Democrats congressman Chris van Holland.
Says that rate is likely to low.
We've looked at this in -- joint.
I committee in the super committee.
He was very clear that getting to answer rates like 25%.
Is very difficult -- eliminating.
Provisions that many people don't consider loopholes we consider.
Important.
Deductions.
Collins -- tax reform should raise more money than the current system to pay down the debt in overall tax increase.
-- some companies pay more and others would pay less -- Republicans disagree with that approach house Ways and Means Committee chairman Dave Camp rights under the Republican plan.
We create a climate for greater innovation investment and job creation.
It is time for the president and congressional Democrats to drop their calls for higher taxes.
And work with Republicans to reform the tax code and Republicans also want to shift the US to -- strictly.
Territorial tax system like other developed economies currently minus creative tax structuring US companies are supposed to pay US taxes.
Even on money they earn overseas Republicans.
Want to -- that Democrats mostly oppose that someone hybrid system where you have both the territory -- a worldwide.
That deal.
Rich thank you so much -- that rates at ten in Washington now breaking news from C.
