Historic Tax Reform in 2017 on Track, Brady Says

Republican leaders in the House and Senate are currently working with President Trump to craft legislation overhauling the nation’s tax code, House Ways and Means Committee Chairman Kevin Brady, R-Tex., said on August 16. Brady discussed GOP tax reform efforts at President Ronald Reagan’s Santa Barbara, California, ranch on the 31st anniversary of the last comprehensive tax reform in 1986. He was joined by Ways and Means Tax Policy Subcommittee Chairman Peter Roskam, R-Ill., and fellow Ways and Means taxwriters David Schweikert, R-Ariz., and Carlos Curbelo, R-Fla.

Tax Overhaul

“For the first time in over three decades we have a president, a House, and a Senate who are all committed to overhauling this broken tax code and unleashing the growth of jobs and paychecks nationwide,” Brady said. House and Senate leaders and the Trump administration are working through the congressional August recess to prepare tax reform legislation to be introduced when lawmakers return to Washington after Labor Day, Brady said. The legislation will first be introduced in the Way and Means Committee.

Bipartisan Ideas

Republicans are also welcoming Democratic contribution, Brady said, adding that his Democratic colleagues have “”good ideas…. Whether you’re a Democrat or a Republican, if you’re serious about getting real pro-growth tax reform done for the American people this year, we are serious about working with you.”

Senate Democrats recently outlined their “prerequisites” for working with Republicans on tax reform in a letter sent to Trump and Senate leaders earlier in August.  The principles that 45 of 48 Senate Democrats stated are required for bipartisan tax reform include no “tax cuts for the top 1 percent,” no deficit-financed tax cuts at the individual and corporate levels, and no movement of legislation in the Senate through the budget reconciliation process.

By Jessica Jeane, Wolters Kluwer News Staff

Ways and Means Press Release: Brady Remarks at the Reagan Ranch

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AUTHOR

Deborah Petro

All stories by: Deborah Petro