Ryan Vows 2017 Tax Rewrite as First Hearing Highlights GOP Split
- Speakers tout benefits of immediate expensing and border tax
- Democrats wary of any plan ‘that helps the rich get richer’
Rep. Brady Says GOP Wants a Tax Code Built for Growth
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The House’s main tax-writing panel held its first hearing on how to overhaul the tax code Thursday, where Republican leaders continued to endorse far-reaching proposals that their Senate counterparts have rejected.
Kevin Brady, chairman of the House Ways and Means Committee, used the hearing to build support for the tax blueprint endorsed by Speaker Paul Ryan. Testimony from executives with AT&T Inc., Emerson Electric Co. and S&P Global Inc. touted the benefits of many of that plan’s provisions, including a measure that lets corporations immediately deduct the full value of their capital spending.