Congressman John Shimkus says he has never seen an agreement on tax reform get this close. And he remains cautiously optimistic there could be an agreement by the end of the year. During an interview with VermilionCountyFirst.com News, Shimkus said on Friday that the House will see the bill this week. ‘’This is really a debate over lowering rates and exemptions, right? Tax loop-holes or whether it’s for the individual or the corporate side,’’ added Shimkus. ‘’So if you want lower rates you’ve got to stop the growth of exemptions. So it’s going to be a great debate.’’
Representative Shimkus adds the basic premise of the bill is lower rates for all and a simpler filing system. ‘’And now the big fight will be ‘let’s see what the Ways and Means Committee does.’ I mean the goal is for the House vote to be done before Thanksgiving. And then you’ve got the Senate to try to do something in the month of December. And hopefully with the Presidential signature so that when you start January 1st – you’re under a whole new tax regime.’’
Shimkus says his constituents have told him they want to be able to figure out their tax return on their own, and send it in on a postcard.
