Republicans on the House Ways and Means Committee will meet Sunday and Monday to talk about tax reform and finding consensus with the White House and the Senate, the committee’s chairman said Thursday.
Rep. Kevin Brady of Texas, chairman of the tax-writing committee, told reporters at the Capitol that Republicans are closer to tax reform now than they have been in 30 years, following the Trump administration’s rollout of some tax reform principles Wednesday.
Trump’s plan includes some differences with the previously released House Republican plan, including on tax rates, as well as some omissions. The plan was silent, for instance, on House Republican calls to allow businesses to immediately deduct investment expenses and to impose a border adjustment on corporate taxes.
Brady indicated that will aim to keep those in the legislation. “We’re bringing those key priorities to the table,” he said.
And he reiterated that the legislation should be a sweeping, permanent reform that does not add to long-term federal deficits, rather than a temporary tax cut.
The White House, in contrast, has not committed to a permanent overhaul that doesn’t add to the deficit.
“This is a fault line that is developing,” tax subcommittee Chairman Peter Roskam of Illinois said Thursday in an interview on Fox Business.
