Economic growth can go "well over three percent" if Congress keeps working from the momentum that started with the tax and jobs bill passed in December, House Ways and Means Committee Chairman Kevin Brady said Tuesday.
"I think it really depends on ensuring that we're building off the momentum from tax reform, getting trade right," the Texas Republican told Fox Business' "Morning with Maria." "I think it really matters to send that signal that we're now armed with one of the most competitive tax codes in the world."
That will give the United States a chance to compete with Mexico and Canada and throughout the world, said Brady, and he will "guarantee Americans will win."
The narratives have been "brutal" over the tax cut bill, but when people are asked if they want to keep more of what they have earned, or if they want the standard deduction doubled and paychecks to rise, they "answer is invariably yes," the congressman said.
"Back home, Main Street optimism is at an all-time high," he said. "People are appreciating keeping what they earn. We're seeing dollars being invested in America, exactly the opposite of what we've seen for two decades. I think it's very positive."
Meanwhile, lawmakers want to change the Washington culture that brings tax reform "once every 30 years."
"We're talking about trying to do what businesses do, which is every year Congress looks at the tax code, asks themselves, 'can we be more competitive as a country, can we be more innovative, can we be better, can we stretch paychecks farther? Can we help families save more and earlier throughout their lifetime? Can we spur more innovation here in the United States? Can we make permanent some of the long-term but not yet permanent provisions of the tax code?'"
Brady also predicted that tax cuts for businesses will be made permanent, but the question remains when.
"We'll find the right timing for it," he said. "We've already seen investment unleashed throughout the economy, because businesses large and small are now able to write those off, those capital investments the year they buy them. It's really powerful."
Meanwhile, the recent omnibus bill, which has also faced fierce criticism, was about the historic rebuilding of the national defense, which was "exactly what we need to do," said Brady.
He also discussed the upcoming vacancy being caused by Speaker Paul Ryan's pending retirement, saying that it's important Republicans hold the House so Republicans can claim Ryan's seat.
"We have our work cut out for us," he said. "We have a great team in this conference. We've got a lot of successes. We've got a November election to go forward. It's a little premature."
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