[PJ] CLEVELAND ‐ Rep. Jim Renacci (R-Ohio), a member of the Ways and Means Committee, told PJM that GOP nominee Donald Trump should consider eliminating the corporate income tax if he becomes president.
"We’ve got to reduce taxes for the hardworking middle class. At the same time, I am a big believer that we’ve got to eliminate and replace the corporate income tax with another type. I’m actually doing a business activity tax," Renacci said in an interview at the Republican National Convention.
"I think it’s important that we do that. Corporate income tax gets passed on to the American consumer. What we really need to do is make sure the corporate income tax is a consumptive tax that really helps grow the economy," he added.
Renacci said his tax plan would make the United States "the No. 1 country in the world to do business in."
"I am hoping that if Trump is successful, which I hope he is, that he takes a look at other plans that will work and make this country the most successful country to do business in," he said. |