House Ways and Means Committee Chair Kevin Brady, R-Texas, has
pledged to immediately begin work on a full international reform
bill and scheduled a hearing on the subject for Feb. 24.
Brady is picking up where former committee chair and current House
Speaker Paul Ryan, R-Wis., left off. Ryan spent much of the past
year trying to find common ground with Democrats on an
international reform bill that would have paired a transition to a
territorial system with an “innovation box,” and raised
revenue through a one-time tax on repatriated earnings.
Democrats wanted to use some of the revenue for highway spending,
but talks collapsed without a full bill being introduced. Democrats
have since indicated they see little incentive in international
reform without highway funding. But Brady appears committed to
drafting and releasing a full bill with or without Democratic
support.
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