Sen. Orrin Hatch commends the Obama administration for signaling a willingness to look at tax reform, but warns Democrats against using the issue to try to increase tax revenue. Reports The Hill:
In a statement, Hatch, the incoming ranking member of the Senate Finance Committee, called for corporate tax reform, saying the current rates have hindered the business community’s ability to compete worldwide.
“I caution the administration and its Capitol Hill allies, however, against pursuing any tax increases under the guise of so-called reform,” Hatch said. “This would unnecessarily politicize a much-needed discussion of how to fix and improve our tax code.
Hatch also said that he appreciated that Timothy Geithner, the Treasury secretary, was meeting with close to 20 corporate financial officials on Friday to discuss tax reform and how it could spur investment.
(See also related Hatch press release.)