Corker denounces media claims of ‘Corker kickback’
Corker said "some adjustments need to be made" to the sweeping tax reform plan to make it fairer and more efficient.
But the
In a television interview on
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"I have had a healthy respect for the media and have not liked the tearing down of the media," Corker said. "But I have to tell you I have a little bit of empathy now for what the
Corker's colleagues in the
"I had absolutely nothing to do with any clause whatsoever in this bill," Corker said, claiming that reports of a "Corker Kickback" have been "absolutely debunked" by those who drafted the legislation.
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"I didn't even know that the provision was in the bill," Corker said.
The tax plan offers a special 20 percent deduction for business owners for so-called pass-through income in an attempt to encourage more hiring and expansions by such businesses. The deduction had originally been designed to exclude businesses like real estate partnerships, which often have few employees.
But last week, the joint bill changed to allow owners of real estate businesses, which the International Business Times estimates could save several real estate partnerships Corker has stakes in by more than
"It was in the House bill and has been in there since the first of November," Corker said of the controversial provision. "This is something that (
Corker initially called the provision "totally unnecessary and borderline ridiculous" when he first heard about it on Sunday and repeated today that some provisions in the tax reform plan are "overly generous" and should be reconsidered.
"My sense is that over time some adjustments are going to need to be made," Corker said.
Corker, who has made headlines this year for feuding with
The
Corker said he "did everything I could" to limit the deficit impact of the tax reform plan when it was in the
"I lost on the
Although Corker said he expects the deficit to be less than the CBO estimate because of the economic benefits from the tax changes, "there is a great possibility of a
"I spent the week that I made this decision with people on the phone all across our state -- chambers of commerce, economic development recruiters and luminaries across the country who are involved in investment on both sides of the aisle," Corker said. "I finally decided for our corporations to be competitive internationally, and for us to really do the things on the business side that will cause us to be competitive on the long haul, I decided that our country would be better off with this legislation."
Corker said his concerns over the deficit remain, "but we have a lot of momentum right now as it relates to economic growth" and with a more favorable trade and immigration policy, Corker said economic growth could be even greater.
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