WASHINGTON, D.C. – Today, House Ways and Means Chairman Kevin Brady (R-TX) released the following statement after a bipartisan Member meeting with Treasury Secretary Jacob Lew regarding the potential economic impact of the Administration’s proposed section 385 regulations.

“We appreciate the opportunity to meet with Secretary Lew today about this issue that will impact so many Americans and companies of all sizes. Ways and Means Republicans again expressed our concern that the proposed regulations will hurt American workers and discourage companies from investing in our country. 

“During our conversation, I asked Secretary Lew to slow the process down, make all the necessary changes, and conduct a true cost benefit analysis. Instead of finalizing the regulations now, the Administration should issue new proposed regulations that address stakeholders’ serious concerns.

“Ways and Means Republicans will continue to take every action possible to protect American workers and their jobs.”