Domestic Taxes

Administration wants no revenue decrease in tax reform

Geithner is scheduled to meet with corporate chief financial officers to discuss tax reform on Friday, with the Times reporting that Disney, Procter & Gamble, Cisco Systems and Caterpillar are among the corporations expected to be included in the get-together.

Prominent officials on both sides of the aisle have been talking up tax reform of late, but revenue collection could prove to be a sticking point. 

Sen. Jon Kyl of Arizona, the Republican whip, said recently that the United States was already collecting enough in taxes.

“I don’t want to see tax reform that ends up raising people’s taxes,” Kyl told Bloomberg Television.

For his part, Geithner appeared to acknowledge that hammering out a tax reform plan could be difficult, telling the Times that while changing the tax code is something people support in concept, “it’s all about the price” when it comes to a particular proposal.

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