Rep. Kevin Brady on Tax Bill: 'We've Got the Fundamentals Right'

Rep. Kevin Brady, R-Texas, praised the tax legislation that passed the House and Senate.

"We set out to create a tax code built for growth, jobs, paychecks, and the economy, and we want to leapfrog America back into that lead pack globally," Brady said Thursday on CNBC's "Squawk Box."

"We redesigned this so companies can compete and win and then bring those earnings back to reinvest in America. So, I think we've got — no, I know we've got the fundamentals right in this tax reform bill," Brady said in the interview.

Brady said that polls showing the unpopularity of the legislation did not ask the correct questions.

"If you ask people what do you think of (President Donald) Trump — what do you think of the tax reform bill? It's only what they've heard. But when you ask them, 'Do you want the standard deduction doubled so fewer people will have to itemize to get their tax cut? Do you want lower tax rates on you or your family?' . . . The answers are overwhelmingly 'yes' to that," Brady, the chairman of the House Ways and Means Committee, said in the CNBC interview.

Economic growth is a key to the success of the bill, according to Brady.

"Every economist seems to be stuck in this slow-growth, 2 percent mode for the next decade. That's what we're trying to shake up, not just quarter to quarter," he said.

On Tuesday, Brady said that few Americans are concerned about details in the legislation such as carried interest. They are more concerned about tax cuts, Brady said on MSNBC's "Morning Joe."

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