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 BradyJOBS for Success Act would recognize that all people have potential Smaller tax refunds put GOP on defensive Key author of GOP tax law joins Ernst and Young 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 RyanFormer Dem candidate says he faced cultural barriers on the campaign trail because he is working-class Former House candidate and ex-ironworker says there is 'buyer's remorse' for Trump in Midwest Head of top hedge fund association to step down 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 Schumer4 in 5 Americans say they support net neutrality: poll GOP senator: Trump's criticism of McCain 'deplorable' Schumer to introduce bill naming Senate office building after McCain amid Trump uproar MORE (D-N.Y.), who is likely to replace Sen. Harry ReidHarry Mason ReidSuicide is not just a veteran problem; it is an American problem The Hill's Morning Report — Washington readies for Mueller end game Bernie campaign 2.0 - he's in it to win it, this time around 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 ClintonDemocratic Socialists of America endorses Sanders for president How to end the Electoral College and elect our next president by popular vote CNN town halls put network at center of Dem primary 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 WydenTreasury expands penalty relief to more taxpayers Overnight Health Care: Senators seek CBO input on preventing surprise medical bills | Oversight panel seeks OxyContin documents | Pharmacy middlemen to testify on prices | Watchdog warns air ambulances can put patients at 'financial risk' Senate panel to hear from pharmacy middlemen on drug prices 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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