03/23/2017

Brady Wants Tax Reform Markup This Spring

Tax reform remains a huge priority for Congress

House Ways and Means Committee Chairman Kevin Brady (R-TX) said this week he hopes to hold a markup on a comprehensive tax reform bill this spring.

Tax reform is a huge priority for Congress and the White House but has taken a back seat so far this session to Republicans’ efforts to repeal and replace the Affordable Care Act (ACA).

Brady said on Fox Business this week that his committee is “going full steam ahead for tax reform this year.” Still up in the air however is whether Republicans and President Trump will get behind a crucial funding provision in Brady’s tax bill, the border adjustability tax. A border adjustment tax would levy fees on imports, which some lawmakers fear would be bad for retailers and other businesses.

Trump has been critical of the border adjustment provision at times but Brady and other House leaders are counting on his support.

“My sense is that border adjustability has become a given,” Brady said. “That it will be part of the final tax reform plan and now the discussions are how can it be designed in transition in a very positive way for importers.”

Despite the optimistic timeline in the House, Senate Majority Leader Mitch McConnell (R-KY) has expressed doubt about whether tax reform could pass before the August recess.

This article was provided for use to OSAE by The Power of A.