Brady at The Heritage Foundation: Ending Tax on “Made in America” Goods Will Unleash U.S. Economic Growth
CLICK HERE to watch an excerpt from Chairman Brady’s remarks.
This morning, House Ways and Means Committee Chairman Kevin Brady (R-TX) discussed “Built for Growth” tax reform at The Heritage Foundation. This bold Blueprint delivers a 21st century tax code built for the growth of families’ paychecks, the growth of American businesses, and the growth of our nation’s economy.
Chairman Brady highlighted one of the most pro-growth aspects of the House Republican Blueprint—a provision to end the tax on “Made in America” products. Ending the tax on American exports as part of the Blueprint’s tax reforms strengthens U.S. global competitiveness, helps our companies succeed around the world, and improves the lives of all Americans.
As Chairman Brady explained:
“One, it levels the playing field for American-made products. Competition going forward in the future will not be based on the tax code—competition will be based on price and service and quality. Whenever you do that, consumers win.
“Secondly, it allows us to dramatically simplify the international tax code, which is stunningly complex today.
“Thirdly, and perhaps most importantly, combined with lower rates in a territorial system, this provision ensures that we have eliminated every tax incentive to move jobs, innovation, or headquarters overseas. In fact, our goal is not simply to stem the tide and stop businesses in America from locating overseas. Our goal is to bring those investments back … we will become a 21st century magnet for new investment on this planet.”
CLICK HERE to watch Chairman Brady’s full remarks.