Ron Johnson: Tax bill doesn't give small businesses 'a fair shake'

Why Sen. Ron Johnson opposes tax plan
Why Sen. Ron Johnson opposes tax plan


    Why Sen. Ron Johnson opposes tax plan


Why Sen. Ron Johnson opposes tax plan 02:11

Washington (CNN)Sen. Ron Johnson, R-Wisconsin, explained his opposition Thursday to his party's tax bill, telling CNN's "New Day" that the plan as currently written is unfair to businesses.

"I'm just looking for a fair shake for all businesses to maintain the competitive balance and position of all businesses," Johnson said, later adding: "I'm not for the current version."
Johnson announced his opposition to the bill on Wednesday, making him the first member of the GOP to formally come out against the party's plan, but he's left open the door to supporting the bills if they are altered.
"(W)e're leaving those pass-through businesses behind. And those pass-through businesses are the engine of economic growth, job creation, innovation in our economy," he said.
    Most US businesses, large and small, are set up as pass-throughs, not corporations. They run the gamut from mom-and-pop shops to big law firms and investment partnerships. They're called pass-throughs because the profits are passed through to the owners, shareholders and partners, who pay tax on them through their personal returns.
    Johnson said President Donald Trump called him Wednesday night, but didn't change his mind about not supporting the bill.
    The comments come ahead of a Thursday vote on the tax bill in the House.
    Johnson also told "New Day" that Alabama Republican Senate candidate Roy Moore would likely be expelled from the Senate if elected. Several women have come forward accusing Moore of sexual misconduct, harassment and assault. He has denied the allegations and has not indicated that he plans to leave the race.
    "I'm just saying what the reality of the situation is based on the folks I'm talking to. I seriously doubt Judge Roy Moore would be serving as United States senator for very long," he said. "I think the voters of Alabama are quite clear -- they want a Republican senator, not a Democratic one. He ought to take that into account."