Republicans reconsider shrinking corporate tax cut

Republicans negotiating a final GOP tax bill are reconsidering proposals to shrink the plan’s corporate tax cut amid ferocious oppositions from Senate Republicans as well as outside conservative and business groups.

Both separate bills that passed the House and Senate would lower the corporate tax rate from 35 percent to 20 percent. But lawmakers negotiating the final bill have considered raising the corporate rate to 22 percent, raising new revenue they would use to offset other changes they plan to make in the final package.

On Friday, a conservative advocacy group tied to the Koch Brothers criticized Republican officials for considering the diminished corporate tax cut.

Senate Finance Committee Chairman Orrin Hatch, R-utah, said earlier this week that he opposed raising the rate to 22 percent. “Not as far as I’m concerned,” he said. “It’s still 20.”

Other Republican senators also have come out strongly against scaling back the corporate tax cut, even while acknowledging that the bill has problems that need to be resolved.

Republican Sen. Susan Collins of Maine said she might change her vote on the GOP tax overhaul if her amendments are not included in the final measure.

She told WABI-TV she won’t make a final decision until she sees what comes out of a conference committee.