Tags: Trump Administration | Trump Tax Reform | kevin brady | house | senate | gop

Brady: House, Senate GOP Have Common Ground in Tax Reform

(Fox News' "Happening Now")

By    |   Wednesday, 22 November 2017 01:04 PM

There are differences between the House and Senate tax reform bills, but there remains a great deal of common ground as Republicans focus on how they can do better than the current tax code, House Ways and Means Committee Chairman Kevin Brady, R-Texas, said Wednesday.

"There is a lot of common ground on the middle-class tax cuts, redesigning the code so our businesses can compete and win anywhere in the world, including here at home, and I think bigger paychecks for everybody," Brady told Fox News' "Happening Now."

However, there are some major differences with the Senate version, which will come under further discussion and a vote once the Thanksgiving holiday is over, Brady said.

The differences include the number of brackets for individual taxpayers, as well as helping small businesses in a major way, "but we are all focused on how we can do better than the current tax code, and how we compete and win internationally is a challenge as well."

Washington is often a "skeptical and at time, cynical city," Brady said, and there are many who do not believe tax reform will ever come.

"They just assume we have to live with all the special interest breaks and complexity," he said. "China, Europe, Canada, and Mexico are putting us in the rearview mirror because of the tax code. It is great to see lawmakers united to get rid of this mess. I think it's encouraging. Back in Texas, my neighbors and local businesses are thrilled we're taking action."

There are also some differences in exemptions between the House and Senate bills, including with the child tax exemption, set at $2,000 per child in the Senate bill and $1,600 in the House.

"Tax code should be pro-family and eliminate the marriage penalties, which ours does as well," Brady said. "We ought to let everyone keep more of the money they earn. This new family tax credit that the House proposed is really not only helpful in raising kids, which is so expensive, it helps with parents, it helps with that college kid who may be living at home with you as well – all expensive propositions."

However, he said he has no doubt the House and Senate will be able to find common ground.

"The bottom line is taxpayers who never got any help raising their children are going to be able to get that under either tax plan," Brady said.

The House did not include an repeal of the individual mandate provision for Obamacare, while the Senate did, but Brady said he does believe a repeal is important.

"We're anxious for the Senate to take action," he said. "There is very strong support, mainly because the individual mandate is a tax. It really hits those modest and middle income families who can't, frankly, afford nor do they want Obamacare. Look, at the end of the day, we want the greatest tax relief we can provide for these middle income families and that fits in a big way."

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There remains a great deal of common ground between the House and Senate GOP tax reform bills as Republicans focus on how they can do better than the current tax code, House Ways and Means Committee Chairman Kevin Brady said Wednesday.
kevin brady, house, senate, gop
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2017-04-22
Wednesday, 22 November 2017 01:04 PM
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