Ways and Means Committee Chairman Kevin Brady (R-TX) today delivered the keynote address at the Tax Council Policy Institute’s 17th Annual Tax Policy and Practice Symposium—this year’s program sponsored by KPMG.
According to Chairman Brady’s prepared remarks, “…pro-growth tax reform is at the top of our list of action items.” In response to a question, he said that "everything was on the table."
The chairman said that the Ways and Means Committee currently was involved in drafting proposals for international tax reform that would serve as a “down payment” on more comprehensive tax reform, after the election. In his opinion, international tax reform was possible this year—especially given the concerns of both Republicans and Democrats about corporate inversions and foreign take-overs. According to the chairman, both dynamic scoring and the permanent extension of certain tax preference items in the PATH Act have provided some leverage or space for accomplishing this goal.
Chairman Brady stated that he viewed House tax reform efforts to be on track with Senate Finance Committee Chairman Hatch’s integration efforts, and that discussions with the Finance chairman were on-going.
© 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.