WASHINGTON — The Republican co-chairman of the deficit-fighting “supercommittee” said Thursday he wants to tackle corporate tax reform, a theme the White House has promoted for months. But big differences remain, including on the sticky issue of whether changes should lead to higher overall taxes on businesses.
There is also wide disagreement over whether Congress should overhaul corporate taxes without addressing taxes paid by individuals. Millions of business owners pay taxes on business profits on their individual returns.
Tax increases should be off the table, said Rep. Jeb Hensarling, R-Texas, co-chairman of the committee. But, he said, simplifying the corporate tax code by lowering the top rate and reducing tax breaks could help improve the economy, which would lead to more revenue.
Denver Post wire services
