Sessions: Open to revenue-neutral tax plan

by Bernie Becker - 02/02/11 4:03 PM ET

The ranking Republican on the Senate Budget Committee, Sessions said at a panel hearing on tax reform that the current corporate rate is hurting American businesses’ ability to compete.

“I think we need to figure out a way to reduce the rates,” Sessions said. “And if it has to be paid for by some tax increases in some other areas, I’m willing to consider doing that.”

Other Republicans and business leaders have also stressed that the corporate tax code needs to increase competitiveness — and have signaled that is more important than ensuring an overhaul is revenue-neutral.

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