Some Conservatives Want Corporate Rate Hike, Panel Chair Says

Tension and disagreements inside the Republican conference may cause rifts for 2025 tax negotiations even if Republicans get a full sweep in November elections, House Ways and Means Committee Chair Jason Smith (R-Mo.) said.

The GOP conference will have to sort out whether to raise the corporate tax rate, whether the tax cuts must be paid for, and what to do about the state-and-local tax deduction cap, Smith said at the lobbying firm BakerHostetler’s legislative summit Wednesday. Much of the 2017 tax law expires at the end of 2025, setting up a tax policy showdown as lawmakers will battle over ...