Today, House Ways and Means Committee Chairman Kevin Brady authored an opinion piece that discusses the 30th anniversary of tax reform and points to the House Republican blueprint plan as a foundation for tax reform efforts moving forward. In response, BUILD Coalition spokesman Mac O’Brien issued the following statement:
“We are pleased to read Chairman Brady’s goals for pro-growth reform and appreciate the efforts he and his staff have undertaken to draft a blueprint that seeks to propel American businesses, families, and the economy forward. In seeking to unleash the economy of the future, we encourage efforts to update and modernize the three decade old tax code. As such, Chairman Brady’s commitment to support initiatives that promote the growth of businesses of all sizes is invaluable to the BUILD Coalition.
“As we look ahead, understanding that tax reform proposals evolve throughout the legislative process, we hope Chairman Brady, Members of Congress, and their staffs commit to maintaining the full deductibility of business interest expenses, an important tool that has allowed businesses of all sizes to manage, invest in, and grow their operations without having to sacrifice equity to do so. Indeed, limiting interest deductibility – even when done in exchange for 100 percent expensing – will have adverse effects that run counter to the ultimate goal of pro-growth tax reform.
“As the BUILD Coalition has said previously, we support efforts to reform the tax code in a constructive manner. We look forward to working with all stakeholders to ensure that any and all tax reform efforts preserve full interest deductibility for businesses and, therefore, promote economic growth and prosperity.”