Collins breaks with Republicans on Tax Cuts for the Wealthy

By Ronald Horvath | Nov 05, 2017

"On Monday Sen. Susan Collins (R-Maine) who is part of GOP revealed her vision for tax reform.With her vision, she opposed two tax cuts for the wealthy. These tax cuts Republicans have long supported.

In an interview, Collins told Bloomberg that she does not believe that the top rate should be lowered for individuals who are making more than $1 million a year.

One of just a handful of moderate Republicans that are in the Senate, the lawmaker said she has expressed her “concern” to GOP leaders about the matter of slashing the individual tax rate for top earners and also repealing the estate tax which are two elements of President Donald Trump’s tax reform plan.

The Maine lawmaker defended the estate tax. This tax takes 40 percent from estates after an exemption for $5.49 million for individuals or $10.98 million for couples.

She made herself clear when she stated that she does not think there is any need of eliminating the estate tax."

Comments (0)
If you wish to comment, please login.