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Sen. Rob Portman, (R-Ohio), explains why now is the right time to reform the tax code.
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-- Republican senator Rob Portman pushing for a sweeping overhaul of the tax code.
Our -- -- -- live from Ohio where he spoke exclusively for the senator this morning rich.
Here and -- Procter & Gamble research facility in the suburban Cincinnati area of Ohio senator Rob Portman says he believes.
The corporate tax reform can and will actually happen this year he says the way can get done.
Is perhaps a new -- at treasury.
He feels -- you had a willing partner in secretary Geithner.
Well I mean he talked about a lot but you know frankly the administration wasn't willing to put forward -- plan I was on the super committee issued those so called for -- death be not so super.
In part because we didn't get tax reform done and during that time we didn't really work with the administration some.
But frankly don't -- they were ready to do it I don't think they're willing to take it on the first term.
Now we have a different situation we Natalie had an administration -- talking about doing it but we also have the chairman of the tax writing committee in the house Dave Camp the Ways and Means Committee and the tax writing committee chair of the Senate Finance Committee Max Baucus.
Who said this is a top priority there's they've actually established a process to work through tax reform including a lot of hearings working groups and so on so.
I think the time may be right for us to do what we.
Did about 27 years ago and gosh every 27 years is probably good idea kind of clean -- the closet and clean up the tax code.
There have been literally hundreds of new tax preferences of loopholes added to the code since 1986 last time we did this it's time to do it again.
-- treasury points out under Geithner the Treasury Department did put out a proposal -- 28%.
Toxin top corporate tax income rate however Republicans have a challenge that it -- detailed announced -- the looking to work.
With Jack -- if he's confirmed.
On a new proposal to get this done also Portman says that he is talking with about four or five -- to try to get a cosponsor.
For his tax proposal bill which would set the top rate at 25%.
Back to you --
