House Ways and Means Committee Chairman Kevin Brady (R-Texas) said that tax-cut legislation he hopes to unveil in August will include a package of bills, the centerpiece of which will be a proposal to make some individual and business tax cuts permanent.
“I don’t see it as one bill. I see it as a package of two, three, or four approaches-with permanency being one of them,” he said at a June 26 Washington Post event.
Retirement savings is one area that will be addressed in the package, he said.
Brady said a legislative outline of the bills would be released in early August and a vote in the House would take place in the fall. Drafts of the proposals will be circulated in the House in July, he said.
Tax extenders, which are temporary tax provisions, wouldn’t be addressed in the package because there is a lot of work still to be done on them, Brady said later. Those tax breaks may be addressed later in the year, he said.
The Ways and Means Committee has been discussing the temporary tax breaks-and how to handle them in the aftermath of tax reform-since the beginning of the year.
Founder, Policy and Taxation Group