Hovde releases tax overhaul plan

Associated Press

Updated: Apr 19, 2012 3:48 PM

MILWAUKEE (AP) — Republican U.S. Senate hopeful Eric Hovde is promising to vote to cut taxes and downsize the Internal Revenue Service if he's elected.

Hovde released his tax overhaul plan Thursday. The hedge fund manager says he would vote to reduce individual income tax rates across the board, reduce corporate tax rates, simplify the tax code and eliminate the so-called death or federal estate tax.

The Milwaukee Journal Sentinel reports Hovde says he wants two tax rates of 10 percent and 25 percent. He also wants to reduce the corporate tax rate to 25 percent.

Hovde is running in a crowded GOP field that includes former U.S. Rep. Mark Neumann, former Wisconsin Gov. Tommy Thompson, state Assembly Speaker Jeff Fitzgerald and Rhinelander physical therapist Kip Smith.

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