House Ways and Means Committee Chairman Kevin Brady said he disagrees with GOP Sen. Ron Johnson’s criticisms of the Republican tax reform bills and has been encouraging him to work with his colleagues in the upper chamber to strike an agreement.
The Wisconsin Republican is the first GOP senator to come out against the plan, arguing both the House and Senate bills benefit corporations more than small businesses. Brady said he’s met with Johnson twice and spoken with him on the phone once to discuss his issues with the measures, but disagrees with the notion the legislation favors Wall Street over Main Street.
“So look, he’s got really good ideas. I encouraged him to work with the Senate Finance Committee and his members to make the case for his ideas,” Brady told The Daily Caller following the House’s passage of their version of the bill Thursday. “I’ve learned you don’t always win every policy debate on tax reform. The question is do you want to stick with the old, current, terrible, messy code. We want to deliver something new.”
Johnson said he’s concerned the legislation fails to provide adequate tax relief for pass-through businesses like S-corporations and sole proprietorships, which are taxed using the individual income tax code. Brady said he’s confident the House bill would benefit small businesses and spark job growth, noting provisions like immediate expensing, which would allow business owners to write off the total cost of business expenses right away, would help lighten the burden.
“I think his criticism is not fair because we spend more tax relief on those small and medium-sized businesses that aren’t C-corporations and so much on our families who are the workers for those companies,” the Texas Republican said. “I really feel like we’re doing great work for small businesses on Main Street.”