House Ways and Means Committee Chairman [crscore]Kevin Brady[/crscore] told Bloomberg View’s Margaret Carlson the committee is examining a number of pro-growth tax reform ideas and will likely have a proposal by the end of the year during The Atlantic Summit on the Economy Wednesday.
“What we expect to do is to lay out, later this summer, a comprehensive blueprint on where we want the tax code to go with a number of details,” he said. ” And also, sort of lay out how we can get there.”
The panel has seen a number of proposals varying from flat taxes, consumption taxes to cash-flow taxes in recent months.
Brady praised former Chairman Dave Camp, saying the groundwork the Michigan Republican laid out made tax reform inevitable.
“He took the concept of lowering rates, broadening the base, simplifying the code, being more competitive globally and growing the economy and proved you could do it with the tightest political constraints possible,” he said. “And the challenge as he laid it down was make it even more pro-growth than this, and secondly.”
Brady said House Speaker [crscore]Paul Ryan[/crscore] has “given them green light” and the committee can’t move fast enough of delivering a proposal to simplify the code.
On the 2016 presidential race, the chairman said all of the GOP candidates have put out pro-growth proposals and he’s confident Republicans can deliver a revenue neutral proposal that with stimulate economic growth.
Brady said while Democrats may see taxes as a way to generate revenue, his party strongly believe that revenue can be gained through economic growth.
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