Thune Joins Larry Kudlow on Fox Business
“[F]ailure’s not an option. We have to get it done.”
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WASHINGTON — U.S. Senate Majority Leader John Thune (R-S.D.) today joined Larry Kudlow on Fox Business.
On tax permanency:
“[W]e want to make sure that we get the 2017 TCJA made permanent. Particularly, you get all those pro-growth provisions … bonus depreciation and interest deductibility and R&D expensing – things that … we had in the … 2017 bill.”
[…]
“… I think that … tax policy, particularly on the business side, ought to be about growth. There ought to be pro-growth, there ought to be incentives to invest. And that’s what we’re trying to have added to this, over and above the things that are already in there that we want to extend and make permanent.”
On Senate Republicans’ priorities:
“[W]hat we’re trying to do is extend the fine work … in 2017 and make [it] permanent … [A]nd of course, the president has some new priorities that he wants addressed in here, and then we’re doing a lot of other things.”
[…]
“[W]e’re going to have some energy stuff in there, we’re going to have some spending cuts in there, we’ll have a generational investment in border security in there, and something that helps rebuild our military.”
On budget reconciliation:
“[F]ailure’s not an option. We have to get it done. From a timing standpoint, it’s just aligning – you know, the incentives are all aligned – but in terms of getting the various sort of interests in the House, and the speaker has a lot of different people who have different equities in this, and then we have the same thing in the Senate, as you know.
“We’ve got people who want more spending cuts, people who want slightly different things when it comes to taxes… [I]t’s a chess match of some sort, but we will get this done. And I think in the end, hopefully it will be by the middle of the summer, because I think that’s what you point out, is businesses looking for economic certainty, and we want to give them that…”
[…]
“The 15 percent rate and the accelerated depreciation for buildings – as you said, bonus already covers equipment and that sort of thing … would incentivize onshore manufacturing, which is the president’s objective, and one that we all support.”
[…]
“But in the end, it’s going to be 218 in the House and 51 in the Senate, as you know – those are the numbers that matter. But I feel good about being able to accommodate a number of the president’s proposals and particularly want to be helpful on those that are going to stimulate growth.”
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