Brady: House Tax Proposal Establishes America As Magnet For Jobs, Innovation.
Houston Chronicle (1/2)
Thursday, January 25, 2018
In a guest column, US Rep. Kevin Brady (R-TX) writes for the Houston Chronicle (1/2) that the House GOP tax reform plan will end America’s “outdated tax code” by “border adjusting our taxes like our foreign competitors do.” He says the new plan “helps eliminate all tax incentives for U.S. companies to move their manufacturing, technology and headquarters jobs overseas.” Brady adds, “Coupled with the new lower GOP tax rates on local businesses and ending the double-taxation of U.S. earnings overseas, this establishes America as a 21st Century magnet for new jobs, technology breakthroughs and headquarters.” In a separate article, the Houston Chronicle (1/2, Osborne) reports on Rep. Kevin Brady’s tax overhaul proposal. Intending to grow America’s manufacturing sector, the plan is designed to streamline “an overly complex and burdensome tax system to grow exports and jobs in manufacturing.” According to the article, instead of “taxing the income of companies operating in the United States, as is the case now,” the proposal “would tax only the income that comes from activity within the country’s borders – at a rate of 20 percent, not the current 35 percent.”