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Economy

GOP lawmaker proposes controversial tax

By Joseph Lawler
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GOP lawmaker proposes controversial tax

A Republican lawmaker introduced a tax reform plan Thursday that includes a proposal that divides conservatives, namely a value-added tax.

Rep. Jim Renacci, an Ohioan who sits on the tax-writing House Ways and Means Committee, announced a tax reform proposal that would simplify and lower tax rates, while eliminating the corporate income tax for a 7 percent value-added tax.

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