House Ways and Means Chairman Kevin Brady said Wednesday the goal of tax reform is to create permanent cuts.
“If we want businesses and families to make decisions whether it’s savings or investment for the long term, these need to be permanent. And every business walking in the door says man, do not give us temporary tax cuts,” Mr. Brady said on “The Hugh Hewitt Show.”
Mr. Brady said that Congress intends to act under the current laws, which includes the 10-year window that restricts them from enacting laws beyond that budget window.
“We’re continuing to work under the law the way it is today, and the truth of the matter is you know, we’ve heard comments about a 15- or a 20-year, or a 25-year budget window. I actually think even 10 years is always a lot of guessing on the budget and scorekeepers have points. So look, we’re going to permanence under the current rules with a lot of growth from this,” he said.
But Mr. Brady did add that the tax cuts they want to pass will not include a sunset provision, and the next Congress would have to act in order to change any of the cuts.
Tax reform is the next big agenda item for House Republicans now that health care has moved to the Senate. The Trump administration has made it clear that tax reform is its top priority as well, with officials saying they intend to have a draft in place by August.