Rep. Chris Stewart (R-UT) was asked by Stephanie Ruhle on MSNBC to name a single specific corporate loophole that the Republican tax bill closes, and he had nothing.
Video:
Transcript:
Ruhle: In terms of simplifying the tax code, what simplification, what loophole is being closed for corporate America? I agree, our tax rate is too high and too complicated. Let’s lower it and close the loopholes. What loopholes for corporations are going to be closed?
Stewart: Oh, my gosh. There will be dozens.
Ruhle: Like what?
Stewart: I’m talking primarily —
Ruhle: Please, sir, tell me one.
Stewart: With interest deductions. With expensing accounts. There’s all sorts of deductions.
Ruhle: Tell me one.
Stewart: I just did.
Ruhle: One example —
Stewart: Primarily —
Ruhle: — Of a loophole being closed.
Stewart: I just did.
Ruhle: You didn’t.
Rep. Stewart’s struggles weren’t surprising since Repulicans voted for tax cut bill when don’t even know what’s in it.
Stewart couldn’t name a single loophole that corporations will lose due to the Republican tax bill, which makes it clear who this legislation is designed to benefit (corporations), and also who will be picking up the tab (you).
The legislation is all about giving money to corporations and the wealthy. That is the real purpose of the bill, and Rep. Stewart made those intentions crystal clear when he faceplanted on MSNBC.
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