FreedomWorks: 'Unacceptable' to delay corporate tax cut

FreedomWorks: 'Unacceptable' to delay corporate tax cut
© Camille Fine

The conservative group FreedomWorks blasted a plan from Senate Republicans to delay a proposed corporate tax cut until 2019 on Thursday, calling the idea "unacceptable."

In a statement on the group's website, the conservative group warned that the plan would delay major economic growth until after the November 2018 midterm elections.

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"The Senate Finance Committee’s principles for tax reform are a welcome part of the discussion. There is a lot to like, but the committee’s plan to delay the reduction in the corporate tax rate until the beginning of 2019 is unacceptable," the group's vice president of legislative affairs, Jason Pye, said Thursday.

"If we don’t make the corporate tax rate reduction immediate, Americans won’t see the impact of economic growth and job creation by November 2018," according to the statement.

Pye added that the group is still pushing for the GOP's tax-reform plan to include a repeal of ObamaCare's individual mandate, which forces Americans to purchase health insurance or pay a fee.

“We’d also like to see the repeal of the individual mandate added, either in the Senate bill or in conference with the House, to provide additional money to go bolder on individual and small business tax relief," Pye said.

Pye's comments come hours after Sen. Bill CassidyWilliam (Bill) Morgan CassidyTax bill could fuel push for Medicare, Social Security cuts Collins to vote for GOP tax plan Overnight Tech: Lawmakers want answers on Uber breach | Justices divided in patent case | Tech makes plea for net neutrality on Cyber Monday MORE (R-La.) announced that the individual mandate would not be repealed and the corporate tax cut would be delayed until 2019 in the Senate GOP's tax proposal. It is a break for Senate Republicans from President Trump and the House GOP.

A version of the bill currently in the House would cut the corporate tax rate from 35 percent to 20 percent in 2018. The House will vote on the GOP tax bill next week, in line with its promise to pass its version of the legislation before Thanksgiving.

The group remains hopeful that the bill can be passed through both chambers before Congress adjourns for holiday recess.

“We’re pleased to see the House Ways and Means Committee move forward today on tax reform legislation. Chairman Brady and members of the committee have worked hard to get us to this point," Pye added.

"We hope for quick passage in the House next week, before Congress adjourns for the Thanksgiving recess," he said.