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Top Tax Writer in House Won't Back Down on Offsetting Cuts

  • Trump, Mnuchin said last week tax overhaul can add to deficit
  • Chairman Brady links revenue neutrality with ‘greatest growth’
Bloomberg business news

Rep. Brady Says GOP Wants a Tax Code Built for Growth

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House Ways and Means Chairman Kevin Brady isn’t giving up on a tax package that pays for itself, even though President Donald Trump has said he’s willing to accept a bill that adds to the deficit in the short term.

During an interview on Bloomberg Television Monday, Brady said it’s essential to offset tax cuts with revenue raisers so they don’t add to the deficit and can generate the maximum amount of growth over the longest period of time. That’s because of Senate budget rules that would require a tax bill to be revenue neutral to be permanent if it’s passed without Democratic support.