Its structure would reduce, maybe even abolish, the self-inflicted disadvantages our legacy tax structure has on our export industries. Conversely, foreign corporations would be fighting to headquarter themselves in the United States.
The Ryan/Brady reform plan would obviate the need for American corporations to flee punitive taxation through inversions. Without resorting to threats of potentially destructive tariffs it would profoundly advantage America’s trade posture. It is a credible proposal to fulfill, in part, Trump’s core value proposition: to make America great again. The Ryan/Brady reform plan has been vetted by the independent, center-right Tax Foundation. Trump has been handed a sophisticated plan that would not be vulnerable to attacks by Hillary Clinton as a budget buster. If Trump picks it up, the Ryan/Brady reform plan could dramatically change the chemistry of the 2016 presidential race. And it would do all that without being a deficit monger.īrady’s successful quest for the Holy Grail of tax reform makes him something like the Indiana Jones of the Congress of the United States.
It would dramatically simplify tax preparation for about 95% of Americans. It would lower rates, broaden the tax base and provide tax cuts to taxpayers across-the-board. It is structured to supercharge economic growth, increasing growth over baseline by 9.1% over ten years. Brady showed them how.īrady rendered a big, high potency, high integrity tax reform plan that is shrewdly designed to vault America back into the lead of world economic competitiveness. Nothing of the magnitude of the last big prosperity-with-equity tax reform, in 1986, seemed possible.
Recent well-intended efforts at tax reform left many pessimistic. Kevin Brady (R-TX), managed to achieve the impossible as head of Ryan’s House task force on tax reform. Speaker Ryan’s hand-picked chairman of the House Ways and Means Committee, Rep.
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