A proposal to dramatically overhaul the nation's tax system is getting closer to being unveiled as U.S. Rep. Kevin Brady and other top Republicans get set to lay out their proposed changes.
Brady, R-The Woodlands, who is also chairman of the House Ways and Means Committee -- the chief tax-writing committee in Congress -- was back in The Woodlands during the week where he presented Congressional Award Medals to a group of local teenagers
After the awards ceremony, Brady told The Courier, as he has repeatedly said during a series of local talks and appearances, that he is confident a tax reform package will be passed by Congress before the end of the year.
"We're closer than ever, after 31 years, to moving forward on tax reform," Brady said Wednesday.
Details of the GOP tax plan are set to be released by the Ways and Means Committee during this week, although the specific day has not been set yet.
"That tax reform is going to be bold, is going to propose a dramatically simpler tax for families and will help evolve America from nearly dead last in competitiveness into the lead pack again," Brady said. "Which means around the world the best place to bring that new job, that new business, that new manufacturing plant will be in America."
Brady maintains the GOP proposal would save an average Texas family about $5,000 a year, while making filing taxes so easy that most Americans would be able to file their taxes on a postcard.
"They call it a simple one-pager, but it's the same thing," Brady said of the tax package.
Meanwhile, Brady and his fellow Republicans can expect a stiff fight over their tax plan from Democrats, who argue GOP lawmakers want to cut taxes for the rich, while doing little to help the poor and the middle class.
Senate Minority Leader Chuck Schumer, a Democrat from New York, has warned that Republican leaders will have to include Democrats in the discussion if they want tax reform to pass.
"Which of our three principles don't you agree with?" The Associated Press reports Schumer asked. "Do you not agree that tax cuts shouldn't go to the very wealthy? Do you not agree that we should work in a bipartisan way? Do you not agree that we should not increase the deficit?"
Republican and Democrats also remain at odds over the budget debate, with The AP noting the work of a budget panel is critical since Republicans need to agree on the budget plan before they can reach an agreement on tax reform.
