You're watching...
FBN’s Rich Edson’s exclusive interview with Senator Rob Portman on whether the current political environment is conducive to tax reform.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Republican senator Rob Portman pushing -- overall tax code.
Average sets -- is live from Ohio he spoke exclusively.
To the senate this morning -- removed from.
Out Procter & Gamble to right.
Right this is -- Procter & Gamble research facility we met with senator Portman this morning and he said that the environment in Washington despite.
Doubts from some folks in DC he says it's conducive to actually accomplishing tax reform be shopping around a proposal would lower the corporate tax rate the top -- 25%.
Cut a bunch of deductions mostly unspecified at this point right now he says he is in discussions.
With a democratic co sponsor.
I am in -- the report -- Democrats in the senate who have expressed some interest.
None of them at that level of interest want to put out a specific plan and but you know that may not be the best we saw it anyway.
Well you know you you can imagine the -- -- -- senate Democrats on the finance committee primarily.
And you know they they -- realize what we realize which is that the current tax code is inefficient.
It's antiquated it's had a date it's bad for jobs incredibly -- complicated really difficult for citizens and US companies to comply with.
Time to fix it.
Now there are ongoing discussions between Democrats Republicans.
Especially in the senate in there really has not reached -- point yet though in either house of congress.
Where Democrat or Republican has signed on to a corporate tax proposal -- that and those discussions as the senator there are still continuing we also talked senator Portman about his time.
On the super committee member of that committee that was established that lawmakers designed to find a some one trillion dollars in savings and eventually failed.
Well there is a congressman out there who's suggesting that we reconvene the super committee.
Portman says he's done with that -- Like to get your response to.
The quote from congressman John -- what's in a letter him he writes a congressional leadership I write your urge you to immediately reconvenes super committee.
Equity think and -- and idea.
It was a painful experience.
Look I I took it seriously I thought it was for real.
I think there are few problems with a one short timeframe.
Second frankly the president was not providing it to cover and support that he should haven't actually issued a veto threat.
Even before we -- -- for serious meeting on you know possible outcomes.
I don't think the super committee -- -- way to do it.
So discussions continue on deficit reduction and of course on tax reform Portman says he believes that congress could actually get that done this year.
-- -- -- It's ads and that would be like a big all Christmas present if we continue to -- and he's totally integrated.
Pat happen Procter & -- stuff is overseas because of it that's very true but I thank you bridge bank story hasn't breaking news that all you the Wall Street Journal report.
