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Sen. Kay Bailey Hutchison (R-Texas) on why she is advocating corporate tax-rate cuts in the U.S.
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Well thank you very much.
Well senator Kay Bailey Hutchison of Texas -- that the US economy is at a competitive disadvantage.
-- -- the highest corporate tax rate in the world senator Hutchison is back with me now so it's great to have you on the show again.
Thank you -- you wrote a very interesting article with senator Portman from Ohio and -- said the basically if we change the corporate tax rate -- -- 35.
To 25 that could mean a million.
Jobs in this country how did you get that -- Oh absolutely.
You know -- -- like to have the record setting in America but.
To have the highest corporate tax rate in the world is not a record we'd like to keep.
This is.
Keeping our businesses from coming back and creating jobs in America.
They would rather be in another country where they have more predictability in the regulations and tax that's lower and we need to be competitive we're the ones who invented the competitive corporate tax rate and now we end up with the highest and it's not good.
We made the point -- in the -- figure out -- with your fellow senator that other countries now with Japan on April 1 lowering their tax rate now we are number one.
You also point to countries like France Italy Germany -- in the UK.
But we even having this debate senator.
For years about the corporate tax rate and and the argument from the other side as you've heard many times is that the tax rate is too complicated it is to -- And that this is gonna be too difficult to change all the breaks that US companies.
Are used to how do you respond about.
Well we need to lower their overall rates.
And cut out all of these special treatments I think that's what everyone agrees would -- our economy and it would create jobs and it would.
Entice our businesses to set up their manufacturing plants in America instead of going overseas where there are.
Lower.
Rates.
Unemployment.
If we could do that and lower the -- and take away all of the other outside incentives.
Then we would have something that corporations would understand it would be simple it would be fair everyone would be treated the same.
I think that is a winner and I hope that when we do tax reform so we need to -- individual as well as corporate tax reform.
We'll senator Hutchison while heading here a couple other pieces of business that happening in DC right I do wanna get your response to what we found out yesterday.
A house sends a particular congressman Elijah Cummings announcing investigations they want to investigate Wal-Mart hold hearings over.
The bribery allegations against Wal-Mart with their Mexican and division.
You yourself congress -- senator excuse me senator Hutchinson.
You're the ranking Republican on the Senate Commerce Committee so this is gonna come to your desk.
Now's your chance will you support parents or investigation in.
-- -- We'll certainly I think we need to have a little more information.
That.
We have a foreign corrupt practices act and if if it is enforced.
And if in fact it has been not been adhered to by Wal-Mart or any company.
It's not only means that we need an investigation but -- should be charges may.
So we need the information first we will be looking at -- of course in our committee and make that decision based on myself and the chairman coming to terms on.
Senator will that be this week see it thank you that you get out those discussions many release a statement sometime this week.
Well -- certainly.
You know intend to I talk to senator Rockefeller but.
We'll just have to take it as it comes to make sure we have the information to substantiate.
The claims that are being made.
Good -- to have you back for that as well senator Kay Bailey Hutchison from Texas senator thank you.
