This morning, Ways and Means Chairman Kevin Brady (R-TX) joined CNBC’s “Squawk Box” and Fox News’ “America’s Newsroom” to discuss President Trump’s new tax plan and delivering on pro-growth tax reform in 2017.
CLICK the image above to watch Chairman Brady on CNBC.
CLICK the image above to watch Chairman Brady on Fox News.
On working with the White House and the Senate on pro-growth tax reform:
“A couple of really positive things yesterday. One, it’s clear the President is putting his capital behind tax reform. It’s been 30 years since we’ve had a President, a House, and a Senate all willing and committed to doing tax reform. My point is, I think we’re the closest in 30 years toward comprehensive, pro-growth tax reform.
“Secondly, it’s clear we want to work together—with the White House and the Senate—to come together with one plan. So there’s not three, four, five, six plans. We’re actually focused on delivering that together. I think that’s important.
“And, now, really the hard work. Just rolling up our sleeves with the White House and the Senate. This is where the work is going to begin. And [the White House] laid out a plan that is 80% common ground with the House. Working with the Senate, look, we start from a very good position.”
On ending the “Made in America” tax:
“I agree with the Secretary. As we rolled [the Blueprint] out last June and started the discussions with stakeholders, it was clear we were going to need to make refinements, we’re going to have to have very patient transition rules in it …
“The reason we’re bringing this to the table is this is what our competitors use to beat us—from China, to Europe, to Mexico, and Canada. So just ignoring that it’s there won’t help us in the 21st century. And so, taxing all products and services equally in the US is a big change from where we’re at. But the key here—not only does it create true competition and economic growth—it eliminates the tax incentives to move US companies and their patents and their headquarters overseas.”
Excerpts from Fox News:
On the need for permanent tax reform:
“I still think—I’m convinced actually—that the greatest growth for the greatest number of years comes about when tax reform is first bold, second it balances in the budget, and third, it’s built to last. It’s permanent because—done right—permanent tax reform doubles the growth of temporary tax reform. So, we’ve got a lot of work to do. I’m absolutely confident we can get this done.”
On delivering pro-growth tax reform in 2017:
“We share, again, so much common ground. We’ve been developing those ideas, Treasury [Secretary Mnuchin] and Director Cohn has been developing their ideas as well. So, this just goes to the hard work portion of tax reform … I’m not focused on the month, I’m focused on the year. This year for tax reform.”