Rep. Brady plans to move tax reform legislation in 2017

The House’s top taxwriter wants to pursue tax reform legislation next year, according to the Ways and Means Committee’s Republican chief tax counsel.

“The committee is now focused on the ongoing work of building tax reform legislation based” on the tax blueprint under the House GOP’s “Better Way” policy platform, said Barbara Angus, chief tax counsel for Rep. Kevin BradyKevin Patrick BradyRyan pledges 'entitlement reform' in 2018 Senate approves motion to go to tax conference Overnight Finance: GOP delays work on funding bill amid conservative demands | Senate panel approves Fed nominee Powell | Dodd-Frank rollback advances | WH disputes report Mueller subpoenaed Trump bank records MORE (R-Texas), chairman of the chamber’s taxwriting committee.

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“The plan for Chairman Brady is to move tax reform legislation as early as 2017,” Angus said in a panel at the Tax Executives Institute conference in Philadelphia.

The counsel’s announcement comes as the federal government marks the 30th anniversary of the Tax Reform Act of 1986, a major overhaul of the tax code by the Reagan administration and Congress.

“Chairman Brady often says that tax reform is something that happens only once in a generation,” Angus said. “With 30 years gone by since ‘86 Act, the time has really come.”

Based on Ryan blueprint

House Speaker Paul RyanPaul Davis RyanMcConnell names Senate GOP tax conferees House Republican: 'I worry about both sides' of the aisle on DACA Overnight Health Care: 3.6M signed up for ObamaCare in first month | Ryan pledges 'entitlement reform' next year | Dems push for more money to fight opioids MORE (R-Wis.) released in June the tax blueprint as one of the six policy platforms of the Republican Party. Brady led the tax task force, which Angus said was the smallest of the six task forces. Participants in the task force, however, met the most often. 

Brady in 2015 expressed a similar tune of pursuing only international tax reform after becoming chairman of the Ways and Means Committee, but had to shelve those efforts thanks in part to Ryan's shift of focus to the development of the "Better Way" plan.   

However, there is now a strong appetite for major tax changes, especially with Europe’s recent state-aid investigations, Janice Mays, former Democratic chief tax counsel of the House Ways and Means Committee, said in the same panel. 

She said Republican and Democratic members of Congress are unified on the idea that the European Commission (EC) is attempting to take U.S. revenue as part of the EC's recent ruling against certain member countries’ special tax deals involving American companies. 

“It has changed the dynamics,” said Mays, who recently left the committee for PricewaterhouseCoopers.

Mays said that Sen. Charles SchumerCharles (Chuck) Ellis SchumerAmerica isn't ready to let Sessions off his leash Schumer celebrates New York Giants firing head coach: ‘About time’ GOP should reject the left's pessimism and the deficit trigger MORE (D-N.Y.), who is likely to replace Sen. Harry ReidHarry ReidBill O'Reilly: Politics helped kill Kate Steinle, Zarate just pulled the trigger Tax reform is nightmare Déjà vu for Puerto Rico Ex-Obama and Reid staffers: McConnell would pretend to be busy to avoid meeting with Obama MORE (D-Nev.) next year as the chamber’s Democratic leader, will be a key figure in tax reform negotiations, if such discussions will take place. Last year, Schumer attempted to broker an international tax deal with Ryan, who back then led the Ways and Means Committee, to help finance a major highway spending bill. 

Democratic presidential nominee Hillary ClintonHillary Diane Rodham ClintonGrassley blasts Democrats over unwillingness to probe Clinton GOP lawmakers cite new allegations of political bias in FBI Top intel Dem: Trump Jr. refused to answer questions about Trump Tower discussions with father MORE also has an infrastructure spending component as part of her policy platform.

Mays also pointed out that Senate Finance Committee ranking minority member Ron WydenRonald (Ron) Lee WydenDemocratic senator predicts Franken will resign Thursday Avalanche of Democratic senators say Franken should resign Lobbying world MORE (D-Ore.) is currently putting together an international tax package that would address inversions. Wyden’s former chief tax chief counsel also moved this past summer to PricewaterhouseCoopers. 

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