Toomey hopeful for individual, corporate tax reform by year’s end

HOUSTON – U.S. Sen. Pat Toomey said Tuesday he hopes to see a comprehensive tax reform bill passed and sent to President Donald Trump by the end of the year.
Toomey made the comment after touring the Houston campus of Perryman Co., an integrated titanium producer, which includes services from melting of ingot to finished products with a global presence in the aerospace and medical implant markets.
During the tour, Perryman CEO Frank Perryman noted the company recently created 60 new jobs “and we see more coming.” A year ago, the company employed 420 people.
Toomey, a Pennsylvania Republican, said he tours the commonwealth’s industries because he wants to make sure they are remaining competitive and are able to expand in the global economy.
“Four percent of the world’s population is living in America, and the other 96 percent are living somewhere else,” he said by way of illustrating the need for American-made products to find their way into foreign markets.
Perryman, which exports about 40 percent of its products, “is a good example” of a company that is thriving in the global arena, Toomey said.
“The economy is eking out 2 percent growth,” he said, adding in contrast, Perryman is performing far above that rate.
“They’re gaining market share and beating the competition,” he said.
When asked what Congress is doing in the area of health care, Toomey said, “We’re working on it.”
He added Congress will never be able to create an entire replacement plan for health care insurance with one piece of legislation.
“Health care costs have escalated so fast and so much,” he said.
As for tax reform, Toomey said he hopes to see legislation for both corporations and individuals passed and sent to the President by the end of the year.
“There should be a comprehensive, simplified tax code and that would allow us to be more competitive across the board,” he said.
Toomey’s visit to Washington County Tuesday afternoon was to be followed by his attendance at a presentation in Pittsburgh of a new class of Eagle Scouts from the Laurel Highlands Council of the Boy Scouts of America.