U.S. Sen. Pat Toomey, R-PA, speaks at a taping of ‘Business Matters’
“We will see a flood of capital come back to the United States,” U.S. Sen. Pat Toomey told an audience of business members and Chamber of Commerce staffers recently at the Lehigh Country Club. The comment, in response to a question about the tax reform bill currently making its way through Congress from “Business Matters” host Tony Iannelli, got enthusiastic applause from the pro-business attendees.
Attendees at the taping had just finished breakfast in a dining room of the country club where they had time to socialize and enjoy the view of the club’s pool and golf course.
Toomey also used the occasion to set out a few goals of the proposed tax reform bill to include doing away with the estate tax which he called the “death tax,” a pejorative term generally preerred by Republicans.
“We will be able to repeal this burdensome death tax,” he said.
Toomey said the proposed tax reform bill will give the United States the “most competitive tax code in the world.”
While Toomey said chances of passing the tax reform bill are “better than even,” he cautioned, “We must be prepared to win on GOP votes.”
He said the “net effect would be a reduction” in our tax bill.
Toomey was optimistic in his assessment of future jobs.
“We’re close to full employment; businesses compete for workers,” which he said will drive up income for workers.
When asked about President Donald Trump’s trip to Asia, Toomey said, it is “very important that the President spend time” in Asia. “North Korea is a very dangerous threat. They might be only two years away from delivering a nuke to the U. S. It is unacceptable.”
Toomey is a Zionsville resident.
The B. Braun Company was the “presenting supporter” for the event. The “host supporter” was Lehigh Valley Acura, Honda and Hyundai dealerships. “Bronze supporters” were Air Products, EHD – a risk management company, FHL Bank of Pittsburgh, Hoffman Insurance Consultants, LLC, Promus Financial and RLB Certified Public Accountants.
The meeting was hosted by the Greater Lehigh Valley Chamber of Commerce’s Tax and Regulatory Committee.