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Brady: This money belongs to the American people, not Washington

July 18, 2018

WASHINGTON, D.C. – This morning, House Ways and Means Chairman Kevin Brady (R-TX) joined Fox News’ “FOX & Friends” and Fox Business’ “Mornings with Maria” to discuss tax reform 2.0, and what to expect this fall.

On meeting with President Trump yesterday on tax reform 2.0: 

“The meeting with the President was incredibly exciting. Trump’s tax cuts have really transformed the future of America for the better. Remember it wasn’t that long ago, you know, our economy was sluggish, paychecks are going nowhere, jobs are going overseas. All that’s changed. So, now the question is ‘do we lock that in?’ Especially those cuts for middle-class families and our Main Street small businesses. The President’s all-in on doing that so the meeting yesterday was to make sure we are in lockstep going forward. We’re going to start right now on 2.0 and those discussions with Congress.”

On making individual tax cuts permanent:

“Goofy budget rules in Congress didn’t allow us, [so] we made it long term: 8 years. We didn’t get a chance to make it permanent [and] we’re coming right back at it. Because, look, if you want a strong economy, paychecks going up, where do you start? Middle-class tax cuts and our local small businesses. And I’ll tell you what, our President ought to feel great about the direction of our economy and America.” 

On whether or not Democrats will let Americans keep more of their hard-earned money:

“So, the other point he’s making and we’re making is not only do we lock it in, we lock it away from Democrats who want to steal those tax cuts back. We think this money belongs to the American people, not Washington… 

“It is stunning that in six months… America’s gone from asking ‘where are the jobs?’ to ‘where are the workers?’ and Democrats hear [that]. They’re going to get a chance — they complained bitterly that these cuts weren’t permanent so we’re just going to see if that was talk or it’s action and they’ll get a chance in the House to do this.

On the corporate rate:

“So, the corporate rate, Maria, was important because America had fallen so far behind our global competitors. That was one of our big problems, the job losses, our manufacturing, research flowing [overseas] so we reversed all that. … I don’t think most people realize that over 1.1 trillion dollars of that tax cut was on the individual and the small business side.  That’s helped growth. But we really think locking that in is critical. We also think companies now are investing in a way that is helping workers in their paychecks, in their retirement, in their compensations. You can tell the optimism back home is crucial. We’re locking that in.”

On Senate action: 

“Pressure’s really going to be on Democrats to decide if they’re going to say who they’re standing with. [Does] Washington have first claim over your money, or do you? So, the pressure’s on but there really is a broader view of whose dollars are these, are we going to keep growing this economy in a major way? So, can they get 60 votes? I’m hopeful it should be that way but let me make a quick, 10 second note though––2.0 was about changing the culture in Washington where we don’t wait 30 years between fixing this code. We have an opportunity to improve it every year, in my view, and one area is in retirement savings we think is really critical to a lot of families. They’d be able to save more and we’ve got, I think, some great ideas in this package to help them do that.” 

“Senate Democrats, I think, if they turn this down as well, I think they’ve made very clear… the bottom line is [if] they’re going to steal those tax cuts back they’re going to have to explain… why they’re going to do that.”