WASHINGTON, D.C. – Ways and Means Committee Chairman Kevin Brady (R-TX) issued the following statement regarding the U.S. Treasury Department’s announcement today that it will begin to roll back several overreaching tax regulations that now impose significant burdens on American job creators of all sizes:

“Today’s announcement by the Treasury Depart is welcome news for our nation’s businesses, workers, and families. For too long, our broken tax code has tied the hands of America’s job creators with burdensome tax regulations that increase costs and hurt their competitiveness. On everything from the death tax to the recent section 385 regulations, Ways and Means Members have been vocal and constructive in encouraging the Treasury Department to scale back or eliminate harmful Washington red tape. Today, the Trump Administration showed they are listening closely and that they are committed to delivering a tax code that works with our businesses – not against them – as they grow and create jobs. We look forward to building on this progress with President Trump and the Senate as we move forward on bold, pro-growth tax reform.”

CLICK HERE to read the full report by the U.S. Treasury Department.