GOP/HOUSE OF REPS/TAXES: “The top Republican on tax policy in the House of Representatives rejected the possibility of cutting taxes without fundamental changes to the U.S. tax code on Thursday [6-22-17], as the main actors in the tax reform debate prepared to meet for a fourth time.
With the window for tax reform narrowing, lobbyists and analysts say Congress could abandon comprehensive tax reform for simple tax cuts to reduce the U.S. corporate tax rate from 35 percent to 28 percent, well above the 15 percent advocated by President Donald Trump.
But House Ways and Means Chairman Kevin Brady, one of six principals involved in closed-door efforts to agree on legislation, told CNBC that such a measure would not meet the Republican goals of bolstering economic growth and enhancing U.S. business competitiveness overseas.”
-David Morgan and Doina Chiacu, “Leading U.S. House Republican rejects tax cuts without reform,” Reuters, June 22, 2017 10:25am