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Tuesday, July 5, 2022

House Republican tax lawmaker says will work toward new Trump tax cut

House Republican tax lawmaker says will work toward new Trump tax cutHouse Republican tax lawmaker says will work toward new Trump tax cut

WASHINGTON (Reuters) – The lead Republican lawmaker on taxes in the U.S. House of Representatives said on Tuesday that he is working with the White House and Treasury to develop a new 10 percent tax middle-class tax cut plan that President Donald Trump began touting last week.

Representative Kevin Brady, who chairs the tax-writing House Ways and Means Committee, said the measure would be crafted in “coming weeks” and would advance in Congress if Republicans retain control of the House and Senate in midterm elections on Nov. 6.

“President Trump believes American families deserve to keep more of what they work so hard to earn. We agree,” Brady said in a statement.

The 10 percent tax plan is widely seen by lobbyists as only the latest Republican campaign messaging exercise on taxes. The Republican-controlled House also passed a “Tax Reform 2.0” bill with individual tax cuts last month, before leaving Washington to campaign for re-election.

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Source: Investing.com

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