McConnell: No federal tax reform this year

WASHINGTON, Feb. 25 (UPI) -- U.S. Senate Minority Leader Mitch McConnell, R-Ky., said Tuesday Congress "will not be able to finish the job" on tax reform this year.

McConnell told reporters on Capitol Hill the differences between Democrats and Republicans cannot be resolved this year, and suggested the issue would be better left until after the 2014 midterm elections..

"I think we will not be able to finish the job, regretfully, in 2014," he said.

"Now, if we had a new Republican Senate next year, coupled with a Republican House, I think we could have at least a congressional agreement that this is about getting rates down and making America more competitive, not about giving the government even more revenue."

McConnell has previously said he doubts tax reform can pass this year, but his comments Tuesday came one day before U.S. Rep. Dave Camp, R-Mich., chairman of the House Ways and Means Committee, is scheduled to release a tax-reform proposal, the Hill reported.

Camp is considering proposing lower corporate and individual tax rates, the Capitol Hill publication said.

Senate Majority Leader Harry Reid, D-Nev., said Tuesday he also doubts tax reform is possible this year.

"I think we should have tackled tax reform years ago, but it will be extremely difficult with the obstruction we get here from Republicans on virtually everything," he said.