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Higgins: We want to pass tax reform this year - KATC.com | Continuous News Coverage | Acadiana-Lafayette

Higgins: We want to pass tax reform this year

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Despite myriad distractions in Washington, GOP congress members are focused on passing tax reform, U.S. Rep. Clay Higgins said Tuesday.

In an interview with KATC, Higgins said the plan aims to lower the tax rate on everyone, from corporations to individuals, but broaden the tax base by encouraging growth.

Higgins said statements that the plan would cut taxes for the rich and increase taxes for the poor are "a lie," and that the reduction of tax rates and simplification of tax codes will encourage businesses to grow and pump more money into the economy.

Corporations and individuals who now have money in overseas tax shelters will return their funds to American commerce when tax penalties and rates are simplified and reduced, he predicted.

"They want their money in American commerce," he said. "Corporations want to grow. Small businesses want to grow."

Higgins said families and individuals will benefit too, as the GOP tax plan would increase the number of people who pay no taxes and decrease the amount of taxes middle class families pay. 

"Can you imagine what would happen if families did their taxes and realized they will see a large refund?" he said. "Can you imagine what would happen to the economy?"

Higgins said he and his fellow GOP congressional members want to pass President Trump's plan before the end of the year - and make it retroactive to January 1, 2017. He said the plan would decrease corporate tax rates to a level so low it hasn't been seen since the 1930s. 

You can hear more from Higgins on KATC TV3 tonight. 

To read the tax plan, see below. To read an analysis of the tax plan by the Brookings Institute, scroll down. 

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