President Donald Trump and the House of Representatives are on "80 percent common ground" on tax reform, according to the Republican head of the Ways and Means Committee.
"We've got some differences on the rates, but only from the sense that we all want to go as low as we can," Rep. Kevin Brady, R-Texas, said on CNBC's "Squawk Box" Thursday.
Trump announced his plan for tax reform Wednesday, outlining a 20 percent cut to the corporate tax and shifting from seven income brackets to three. A proposed border adjustment tax was not included, though the White House said it hopes to negotiate for it with Congress.
"There's a good reason to stay at the table, see if we can't come up with a good, smart solution," Brady said.
His fellow Texan, Senate Majority Whip John Cornyn, called for both parties to support the plan, saying "Pro-growth tax reform should be our goal — and it's something that's united Republicans and Democrats in the past. There is no reason why we shouldn't be united again in accomplishing that tax reform."
Brady's fellow Republican, Sen. David Perdue of Georgia, told CNBC earlier the same day that he could not support the bill if it included a border adjustment tax over concern that it would raise costs for consumers.
"At the end of the day, it won't raise consumer prices," Brady said.
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