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Tax Committee Hearing Emphasizes Need for Tax Changes

February 5, 2016

On Tuesday, the House Ways and Means Committee convened the panel’s first hearing of the year, which focused on “pro-growth policies” and views expressed by thought leaders in DC-based think tanks. Chairman Kevin Brady (R-Texas) noted his panel will be drafting international tax legislation over the next few months to address corporate inversions. Chairman Brady added that a timeline and details have not yet been decided, and that drafting will begin in the Tax Policy subcommittee led by Rep. Charles Boustany (R-La.).

Discussions on an international tax bill have heated up in recent weeks as attention-grabbing corporate inversions dominate national headlines. Rep. Tom Reed (R-NY) mentioned that any changes in the code addressing the tax treatment for C-corporations, should also include efforts to lower the tax burden on the pass-through businesses. Despite talk by Speaker Paul Ryan (R-Wisc.) and other members of Congress about broad-based reform efforts, Chairman Brady said the committee will target international issues, and acknowledged that even those changes were unlikely to reach the president’s desk in 2016.

For more information, please contact Brian Lenihan at lenihanb@agc.org or (202) 547-4733.

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