Ways and Means Chair Bets on Postcard-Sized Tax Reform
The answer to tax reform may lie on one postcard. At least that’s the sentiment from House Ways and Means Committee Chairman Rep. Kevin Brady, a Texas Republican, who says his new tax reform plan is so simple and fair it can be fit on a postcard.
“We flatten out the brackets, we lower the rates at every level, we protect more of those first dollars that families earn [and] we’ve put a big incentive on savings, investment, ” Brady said to FOX Business Network’s Stuart Varney.
Brady said while America is not a “nation of savers,” it should be, and his tax plan can help more Americans save more of their money.
“After we flatten the brackets and lower the rates, the dollars you get from savings and investment—we cut your rates in half. So [we] reward savers, we reward investors and it’s incredibly pro-growth for the country and communities as well," he said.
Despite major opposition from Washington, Brady said his plan will be ready for the new administration’s review.