Kyl: Tax reform could take time

But while Kyl indicated that he could envision lower corporate rates and doing away with certain loopholes, he also said that he did not think tax reform should lead to the government collecting more in taxes.

“Our problem is not a lack of revenue, so I don’t want to see tax reform that ends up raising people’s taxes,” he said. 

Tax reform is a growing topic around Washington, with Kyl just the latest prominent official to weigh in. 

Both the Democratic and Republican leaders in the Senate — Harry ReidHarry ReidThe Trail 2016: Her big night Reid: Trump 'may have' broken the law with Russia remarks Senator slams Reid for 'dangerous game' on Trump briefings MORE and Mitch McConnellMitch McConnellPeter Thiel does not make the GOP pro-gay Reid: Trump is a 'hateful con man' McAuliffe: Clinton won't move TPP without changes MORE, respectively — talked up the idea of revamping the tax code on Thursday. 

Ben Bernanke, the chairman of the Federal Reserve, told a Senate committee on Friday that individual and corporate tax rates should be dealt with together and that lowering rates and closing loopholes was “the best approach.”