GOP lawmaker: Bipartisan tax bill will move soon

A high-ranking House Republican is predicting swift consideration of a tax research and development bill.

Rep. Kevin BradyKevin Patrick BradyHouse GOP bill a mixed bag for retirement savers China imposes new tariffs on billion of US goods: report Trump announces tariffs on 0B in Chinese goods MORE (R-Texas), a senior member of the Ways and Means Committee, tells The Hill that his bipartisan legislation should hit the House floor in the "next few weeks."

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The bill, which would make permanent certain tax breaks for research and development, is co-sponsored by Connecticut Democratic Rep. John Larson John Barry LarsonRyan, lawmakers call on Catholic Church leaders to come clean More than 150 Dems launch caucus to expand Social Security benefits Democrats unite to expand Social Security MORE.

Brady believes the House will pass the bill, designed to increase the tax credit from 14 percent to 20 percent for research and development. But he is worried that politics could derail it in the Senate.

At press time, the House announced it would vote on the bill next week.