Tax Analysts and the NY Post have reported that Orrin Hatch, Senate Republican tax reform leader, discussed tax reform on Fox News, Sunday Morning Futures, on August 6, 2017.  Among other things, he said that there would be no tax benefits targeted to the wealthy, at one point noting that “We’re certainly going to hit the rich, there’s no question,” Hatch said. “They’re not going to get anything — hardly anything — out of any tax reform that we do.”

Senator Hatch’s appearance was summarized in the NY Post, whose article begins as follows:

The Republican tax reform leader in the Senate said Sunday it would be “miraculous” if President Trump could achieve his lower tax brackets for Americans.

Sen. Orrin Hatch (R-Utah) cast doubt on the ability of Congress to pass legislation to lower tax rates to 10 percent, 25 percent and 35 percent.

“If we could get to those rates, that would be miraculous,” Hatch, chairman of the Senate Finance Committee, told Fox News’ “Sunday Morning Futures.”

Hatch also poured cold water on Trump’s plans to lower the corporate tax rate to 15 percent.

See full NY Post article at: GOP senator: Achieving Trump’s tax plan would be ‘miraculous’ | New York Post

See also 2017 TNT 151-2 NO SPECIFIC BENEFITS TARGETING RICH IN TAX REFORM, HATCH SAYS (Doc 2017-65054) (subscription required)

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.