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Brady Statement in Response to Final Section 385 Regulations

October 13, 2016

WASHINGTON, D.C. – Today, House Ways and Means Chairman Kevin Brady (R-TX) released the following statement after the Treasury Department published final “Section 385” rules.

“American businesses and Members of Congress from both sides of the aisle have repeatedly asked the Administration to slow down and do the work necessary to ensure that final regulations under section 385 will not damage our economy and hurt American workers. By rushing the review process—despite the extensive comments received—and finalizing these regulations so quickly, it appears that the Obama Administration has ignored the real concerns of people who will be most impacted by these far-reaching rules.

“I am going to carefully review these final regulations in the days ahead and hear directly from people across America about how these rules will impact our workers, our job creators, and our communities. With Americans already suffering through the worst economic recovery since World War II, our country simply cannot afford more Washington red tape that will discourage economic growth and make it even harder for Americans to get ahead. Republicans will continue to do everything possible to protect American workers and create an environment that encourages economic growth.”