Lee: Extend Rates for One Year, Then Do Tax Reform


Sen. Mike Lee (R., Utah) appearing Monday on FBN’s ‘The Willis Report’ discussed possible paths forward on fiscal cliff negotiations. Lee again rejected raising rates on top earners and suggested that all rates be extended for one year, which could then allow Congress to tackle comprehensive tax reform:

TRACY BYRNES: Is there anything you’re willing to come to the middle on?

MIKE LEE: We can come to the middle where the Democrat from Illinois – Senator Dick Durbin said a few months ago, (that) we ought to extend the current rates for perhaps a year or so we can come to the table and undertake a comprehensive tax reform effort, one that is designed to reform and simplify our existing ‘Buddy Holly’ era tax code that occupies tens of thousands of pages now but has ever read.