House Ways and Means Committee Chairman Kevin Brady (R-TX) said the GOP tax legislation due to be released this week will not include a deduction for state and local income taxes and will offer relief only on property taxes, Reuters reports.
Said Brady: “Our lawmakers in those high-tax states really believe their families are being punished most by property taxes.”
House Ways and Means Committee Chairman Kevin Brady (R-TX) “suggested a tax bill he is preparing to introduce could force changes to 401(k) plans and other retirement accounts, potentially bucking a promise from President Trump that those accounts would be left alone,” the Washington Post reports.
“Brady’s comments come just one week before he is planning to introduce his tax bill, which Republicans hope will lead to the most sweeping changes to the tax code in more than 30 years. But almost all of the key details of the tax bill remain a mystery. Again and again on Wednesday, Brady said the most pressing decisions have not been reached.”
Rep. Kevin Brady (R-TX), chairman of the House Ways and Means Committee, won’t use the power he has to request President Trump’s tax returns, the Wall Street Journal reports.
Brady “brushed aside Democrats’ calls for a committee inquiry into Mr. Trump’s taxes and conflicts of interest, saying it would set a precedent for intrusive looks by Congress into individual taxpayers.”
“As chairman of the tax-writing panel, Mr. Brady has the power to get Mr. Trump’s returns from the Internal Revenue Service and review them in closed session with other committee members. The committee can also make the returns – or portions of them – public by submitting a report to the full House.”
Taegan Goddard
Taegan Goddard is the founder of Political Wire -- which for more than two decades has been one of the nation's most influential political news sites.
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