Senate Finance Committee Chairman Orrin Hatch (R-UT) told business leaders Feb. 1 that he will not take a position on the House GOP's border adjustability proposal for tax reform before he knows how the provision would affect U.S. consumers and whether it would be consistent with U.S. trade obligations.
[Daily News| February 1, 2017 |Inside US Trade]
The panel's chairman, speaking at the U.S. Chamber of Commerce, added that while he is confident the House GOP tax plan “will provide a strong, legitimate path forward,” the Senate's tax reform bill will “almost surely end up looking different from what passes in the House” to ensure the plan can garner sufficient support in his chamber.
“The Senate will have to work through its own tax reform process if we’re going to have any chance of succeeding. No one should expect the Senate to simply take up and pass a House tax reform bill, and that’s not a bad thing,” Hatch said.
“This is not to say that I plan to oppose or disregard [Ways & Means Committee] Chairman [Kevin] Brady’s bill when it comes out,” Hatch said. “Far from it. I am confident that their tax reform plan will provide a strong, legitimate path forward.”