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Rudolph Penner: Substantially Higher Taxes Are a Political and Corporate Difficulty

Rudolph Penner, The Urban Institute: The Senator did admit that a tax reform policy that broadens the base and lowers the rate could mean that some middle and lower middle class earners may lose deductions see their tax bill rise. On July 24, the Budgeting for National Priorities project at Brookings hosted Senator Pat Toomey (R-Penn.), a member of the Senate Budget Committee, the Joint Economic Committee, and a former member of the bipartisan Joint Select Committee on Deficit Reduction, for a conversation on the super committee's negotiations, his deficit reduction framework, and his view on how pro-growth tax reform presents a path forward to address our fiscal challenges, including the impending 'fiscal cliff.' Following Senator Toomey's keynote address, a panel of experts examined the potential impact of the fiscal cliff on the U.S. economy and assess solutions now being proposed on Capitol Hill. More on this event at: http://goo.gl/8z2Rk
Length: 01:05

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