Corker Expects Battle Over Which Loopholes To Close

Tennessee Senator Bob Corker says there’s widespread support for closing tax loopholes, as part of a potential deal to rework entitlements like Social Security and Medicare. But Corker jokes the fight over exactly which loopholes lawmakers close will amount to a “permanent employment plan” for lobbyists.

Speaking to business leaders in Nashville, Corker said figuring out which loopholes to close would pit such executives against each other.

“And every lobbyist in America will be hired, because what is one man’s loophole is another man’s… whatever. It’s their existence.”

Corker says one particular battleground could be tax breaks for when companies provide health benefits for workers. And he says dealing with tax breaks on mortgages would invoke ire from what he called the “housing industrial complex.”

“And by the way,” Corker said, “those are on the individual side. Wait until you get on the corporate side.”

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WPLN Intern Maria Ochoa Vargas contributed to this report.