Rep. Kevin Brady (R-Texas) of the Ways and Means Committee said Wednesday Republicans are “still on track” to deliver major tax reform this year, despite Senate Majority Leader Mitch McConnell’s (R-Ky.) announcement Tuesday to delay the vote on the Senate’s health care bill until after the July 4th recess.
Continue Reading Below
“Thankfully Ways and Means Committee Republicans have been working five years toward this moment in history to be able to do tax reform," Brady said during an interview on FOX Business. "We’re working closely with President Trump’s team and the Senate on this as well to get toward a single unified tax reform plan – a redesign of the way we tax in very fair, simple, pro-growth way."
A corporate tax cut, cutting the tax rate for small business operators and individuals, as well as giving “businesses full and unlimited expensing,” are the priorities within the GOP’s tax overhaul plan said Brady, but he added that “tax cuts alone won’t make you as competitive, certainly won’t drive more jobs and supply chains our direction.”
“We’re pushing for tax reform, bold, permanent, doing it now in 2017. And our goal is to leapfrog America from 31st in the world in tax code competitiveness, into the top three. And to do that, we’ve got to redesign the way we do it,” Brady said.