Republicans on track for U.S. tax reform this year - lawmaker
The head of the U.S. House Ways and Means Committee said on Tuesday Republicans are on track to pass tax reform this year and, unlike with healthcare, are united around a common plan even as the details are still being hammered out.
"We are on track to deliver transformational, bold tax reform this year," Committee Chairman Kevin Brady told CNBC in an interview. "We have the White House, the House, the Senate working together on the same page unifying behind a single tax reform plan. That didn`t happen with healthcare."
Brady, speaking ahead of a planned speech on the issue scheduled for Wednesday, said Republicans had yet to finalize tax rates and other details.
The White House has said it will release a tax reform framework next month but not accompanying legislation. That would instead come from a key group of legislators, who released their working framework in July.
The Republican Party controls both chambers of Congress as well as the White House, and President Donald Trump has been anxious to notch up a first legislative win. An effort to pass healthcare legislation failed last month.
"We`re still working with the White House and Senate on the details of this plan but we`re going to push rates as low as we can and we`re going to incentivize as much business investment now and in the future as we can," Brady told CNBC, adding that any changes should be permanent "so that families and businesses can count on this."
Asked about Trump`s handling of his party`s bid to repeal and replace Obamacare, which failed to gather enough votes to pass in the Senate, Brady said the president`s leadership would be key in pushing a tax plan.
"My sense ... is he`s all in on tax reform," he told CNBC.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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