“My Democratic colleagues use the term ‘loophole’ to describe things they don’t like and ‘investment’ for things they do like,” Hatch said. “It’s simply dishonest to call it a loophole.”
Hatch said that tax expenditures that benefit solely the wealthy would not generate enough revenue to truly help reduce the deficit. He said the Democrats’ plan would end up hurting the middle class which also benefits from tax deductions.
“We’re talking about raising taxes on the middle class or not raising enough revenue to make a dent on the deficit,” Hatch said.
He added that he hoped Murray would not pursue tax reforms in her budget and that she should “let the finance committees run their route” or else “we won’t see tax reform this year.”
Murray has justified increasing revenue in addition to cutting spending because Congress has already approved $1.8 trillion in spending cuts since 2010 but only $600 billion in new taxes.