The President or at least the White House views LIFO as some type of accounting gimmick, some type of subsidy loophole that businesses apply to.
Kevin Brady
The Public Record
Kevin Brady is a Republican politician from Texas, best known for his role as a member of the U.S. House of Representatives, where he served from 1997 to 2021. During his tenure, he held significant positions, including Chairman of the House Ways and Means Committee, where he played a key role in shaping tax policy and economic legislation. Brady was instrumental in the passage of the Tax Cuts and Jobs Act of 2017, which aimed to reduce taxes for individuals and businesses. He has also been an advocate for various initiatives related to trade, healthcare, and education.
In fact, in the corporate tax reform framework, the President recently proposes to double tax the income of certain unspecified large pass-throughs.
The first step is passing these agreements, but to get the benefits, we need to get them entered into force.
We would not have been able to pass the trade agreements with Korea, Panama, and Colombia without it.
We need an aggressive agenda that finds new customers for our businesses and our farmers, that tears down trade barriers and fights protectionism anywhere in the world.
Clearly, with the passage of the three trade agreements, America is back on the trading field in a big way, but it is important that we not return to the sidelines.
Trade is jobs. It is the economic freedom to buy and sell and compete around the world with as little government interference as possible.
I just want to reiterate the point we've been making. The goal of this amendment is not simply to break America's contract, it's really to stop American companies from investing here in America, and creating jobs from clean natural gas…
Who is going to pay off the debt? Who is going to balance the budget after you tax all of these other people?
Rather than protecting the middle class, I would suggest this budget will saddle the middle class.
Mr. Chairman, today I want to take a moment to honor one of our heroes amongst us.
This dubious distinction makes it that much more challenging to attract businesses to hire and invest here at home where we need the jobs.
It looks like we will see a unicorn before we see this administration put out a comprehensive tax reform plan.
It seems to me that in America, no matter how much money you make, the Federal Government should not be able to take nearly half of your income.
I understand the President's claim that everyone must pay their fair share, but what I don't understand is how raising taxes on investors and small businesses accomplishes that objective.
So my goal at the end of the day, I want the lowest possible tax rate, but I want the strongest possible pro-growth Tax Code.
I think the draft proposal on territorial and lower rates, the way it was laid out, has been a very positive and helpful movement toward fundamental tax reform.
As for unemployment, clearly the economic policies of the Obama Administration did not produce the vigorous recovery, for which hardworking taxpayers hoped.
It is important we extend these benefits, that we do it now; that we not have another two-month extension.
As for unemployment, clearly economic policies of the Obama Administration did not produce the vigorous recovery, for which hardworking taxpayers had hoped.
Congress must fill this sinkhole to ensure that we will be able to pay promised Social Security benefits.





