Tax Notes: Brady, Roskam Sidestep Democratic Calls for Tax Reform Hearings
In May, the Ways and Means Committee held one hearing focused on the border tax proposal, and another on increasing U.S. competitiveness. However, Tax Policy Subcommittee ranking minority member Lloyd Doggett, D-Texas, said Congress needs more time to discuss potential legislation inspired by the GOP’s “A Better Way” tax reform blueprint. Doggett suggested that Republicans’ true time frame is to pass a tax bill before December, without much public input, just like they did with the American Health Care Act (AHCA, H.R. 1628). He said potential hearings should address “what are the pros and cons of expensing capital investments versus deducting interest,” which are two of the major blueprint proposals.
