By Jacqueline Pitts, The Bottom Line
In a listening session with small business leaders, U.S. Rep. Andy Barr (R-Ky.) assured the crowd that health care reform isn’t dead and that tax reform cannot wait until health care is resolved.
“We aren’t giving up on health care because we can’t. Persistence is the name of the game,” Barr stated during the three-hour listening session organized in conjunction with the U.S. Small Business Administration Office of Advocacy.
Barr explained that the Senate will need to pass something to allow members of the House and Senate to conference on reforms. He said that he is willing to work across the aisle on a bipartisan solution provided such a solution actually reduces the cost of health care.
When asked if the timeline for tax reform is still dependent on passage of health care reform, Barr said that passing health care reform would’ve made tax reform easier, but that last week’s joint statement from policy makers on tax reform and abandonment of the border-adjustment tax clears a hurdle. Barr noted currently there is more momentum on tax reform than health care reform.
In speaking specifically as to what tax reform means, Barr pointed to the need to broaden the base, lower the corporate rate, move toward a territorial tax system, and reduce and simplify taxes for individuals and pass through entities including bifurcating business income for pass through entities.
Rep. Barr expects movement on tax reform around Labor Day.
During the listening session, several participants explained challenges they face with many regulatory programs. Congressman Barr and members of the Office of Advocacy heard concerns about financial regulations and access to capital, Overtime Rule, Fiduciary Rule, Clean Water Rule, methane regulations on oil and gas drilling, compliance and reporting costs, and workforce and labor shortages.
The Small Business Administration Office of Advocacy is an independent voice for small businesses within the federal government. For more information or to provide feedback on federal regulations visit https://www.sba.gov/advocacy.
For more state government news go to the Kentucky Chamber of Commerce’s The Bottom Line blog.