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Sen. Rob Portman, (R-Ohio), argues America can't compete globally with the current tax code.
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-- -- same thing here so we've been -- -- this Republican senator in the comments on -- tax reform is Rob Portman.
And he's talking about a sweeping overhaul of the tax code saying that America's fallen behind with the current -- -- just can't compete globally at this point average jets and as live from.
Mason Ohio where you spoke exclusively.
With us this morning -- Not good afternoon -- guess technically still good morning senator Portman was sheer home state -- Procter & Gamble research facility we had a lengthy discussion about tax reform.
He says he's working with four or five other Democrats in the Senate Finance Committee looking for a partner.
To roll out his corporate tax proposal he says he can and will get something done on corporate tax this year he just needs.
Willing participant on the other side I asked him about the Simpson Bowles proposal that came out yesterday calling for an additional.
600 billion dollars in tax revenue to come from tax reform this would be on top of the 600 billion that was part of that fiscal cliff deal.
Portman says that's a non starter.
You've narrowed the base and exactly and -- exactly.
So you -- -- -- -- we've we've we've we've -- the tax increases -- about 620 billion dollars over ten years.
Primarily at the top -- and therefore getting a lot of small businesses.
Now it's an opportunity to say okay.
This is the code we have which has become a monstrosity in terms of the size and complexity.
It's about ten times longer in the Bible and not nearly as interesting as I -- yesterday at a speech.
-- some opportunity for us let's not talk about tax increases or tax.
Cuts let's talk about instead had he would get the tax code to work better for American workers and this is about workers.
There's a study done by the Congressional Budget Office with regard to the corporate tax system.
70%.
Of the harm done by the higher corporate rates that we have is borne by workers.
And -- -- in the in the form of lower salaries and fewer benefits.
Fewer job opportunities.
So if we -- -- be competitive globally if we want American workers to be able to compete on a level playing field.
We -- reform our tax -- -- I think there's a growing consensus about that.
Department says that consensus comes from the administration he says he believes Jack -- during the confirmation hearings the Senate Finance Committee last week.
But there is -- willingness among the administration to do something on corporate tax reform along with.
The chairman of the Senate Finance Committee senator Max -- so right now -- in conversation with other Democrats looking for way.
To roll this out as over on the house side house Ways and Means Committee chairman Dave Camp.
Is rolling out his proposal -- a lot moving on corporate tax reform however still a long ways off from.
Finding a place for Democrats -- Republicans can really get together and perhaps -- something out of the president's desk.
Back to you Rick Jensen not -- interview rich in the exclusive there was an influential senator at Ohio new report.
