U.S. Sens. Shelley Moore Capito (R-WV) and Dean Heller (R-NV) hosted Treasury Secretary Steven Mnuchin in their home states on Monday to discuss the need for comprehensive tax reform with constituents and business leaders.
The meetings came in advance of President Donald Trump’s proposal of a tax reform plan in Missouri on Wednesday that called, in part, for cutting the corporate tax rate to 15 percent from 35 percent.
In West Virginia, Capito and Mnuchin toured the U.S. Treasury Department’s Bureau of the Fiscal Service and then took part in a roundtable discussion on how tax reform would benefit businesses and residents of West Virginia.
“This fall, Senate Republicans will work to pass comprehensive tax reform that spurs economic growth and benefits American families and business,” said Capito, the chairwoman of the Senate Appropriations Subcommittee on Financial Services and General Government, which oversees the Treasury Department’s budget.
She added that Monday’s discussion shows that “tax reform is a necessary step to growth and expansion for West Virginia businesses. To create more jobs and provide more economic security, we should listen to the ideas and impacts shared by the businesses we heard from …”
Heller, a member of the Senate Finance Committee, hosted a listening session between Mnuchin and top business executives in Nevada. Issues with the federal tax code and the need to reduce rates for families and businesses were focal points.
“We are all on the same page when it comes to making sure that Nevadans get to keep more of their hard-earned paychecks,” Heller said. “When we lower rates for businesses, we give them the chance to better compete, allowing them to hire, invest and expand — creating more jobs in our communities. And when we simplify the tax code, industries from construction and real estate to hospitality and high-tech will thrive.”
During a Senate Finance Committee hearing earlier this summer, Heller identified tax reforms that allow Nevadans to bring home more take-home pay and would spur full economic recovery in the state.