Top Republican sees possible compromise on corporate taxes

By Martina Stewart, CNN.com

WASHINGTON — A leading Republican on fiscal and economic issues said Sunday that, in the midst of rampant disagreement in Washington about how best to turn around the faltering economy, he thinks the White House, Democrats, and his party may be able to reach a compromise on corporate tax rates.

Appearing on NBC’s “Meet the Press,” House Budget Chairman Paul Ryan, R-Wisconsin, noted that in a recent speech President Obama spotlighted business tax reform and passage of trade agreements as two areas where agreement might be reached and legislative action could be taken soon. “Great,” he said. “We agree with those. Let’s do those. We’re bringing these trade agreements up next week in the House. I think we’ll pass these things.”

“What about business tax reform?” Ryan said. “I don’t think the president seems to be willing to work with us on individual tax reform but on business tax reform.”

Ryan added that he believes an agreement on lowering the corporate tax rate is possible and that the work on the bipartisan debt “super committee” presents an avenue for an agreement to be reached.

“I think the super committee should do that. I think they have the wherewithal to do that. And I really do believe that that will help us create jobs,” the Republican lawmaker said. Ryan added that the United States has higher corporate tax rates than other countries. “And we’re losing as a result of it,” he said.

To read more, visit:  http://www.cnn.com/2011/10/09/politics/economy-compromise/

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