Rep. Chris Stewart got into a testy conversation with MSNBC’s Ali Velshi and Stephanie Ruhle Monday over the GOP’s tax reform.
Mediaite reports Velshi tried to pin down Stewart on the GOP tax proposal, noting that several economists said the GOP tax reform plan would balloon the deficit by more than a trillion dollars, which Stewart pushed back against.
The conversation then turned to tax loopholes for corporations.
The effective corporate tax rate, as Velshi noted, is around half of what corporations pay on paper, due to a series of tax loopholes that President Donald Trump promised during the campaign he would get rid of.
These loopholes do not seem to be touched by the Senate GOP’s nearly 500-page tax bill, with Velshi and Ruhle grilling Stewart to name just one corporate tax loophole that would be eliminated by the plan.
“Oh my gosh,” Stewart replied. “There will be dozens.”
“Please, sir, tell me one,” Ruhle said. “Just tell me one. One example of a loophole that’s being closed.”
Stewart tried to shift the conversation from corporations, saying “Primarily, we’re focused on the loopholes for individuals and simplifying for individuals.”
They wouldn’t let him change the subject, bringing it back, again and again, to tax loopholes for corporations.
“Why wouldn’t we close a loophole for corporates? The argument was you have to lower the tax rate and get rid of all these loopholes,” Ruhle added. “What loopholes are being closed for corporates?”
“Please give me an example of one.”
Stewart eventually relented, saying “That’s our point, is for corporations to pay less. That’s the point.”