On Wednesday, Representative Kevin Brady (R-TX) was elected as the next Chairman of the House Ways and Means Committee, succeeding former Chairman Paul Ryan (R-WI) after his selection as the new Speaker of the House last week.
Brady, the representative for Texas’ 8th district and the second most senior member of the committee, has long been a champion for small business and free enterprise. Throughout his career, he has advocated for policies that encourage both job creation and innovation within the private sector. Just last year, Brady introduced the American Research and Competitiveness Act of 2014, a House bill that would have modified the Research and Development (R&D) Tax Credit for the benefit of American taxpayers and made the credit a permanent fixture of the tax code. Such legislation is vital in promoting broader competitiveness and demonstrates the leadership that will be necessary in ensuring future economic growth.
With his election as chairman to what many consider to be the most powerful committee in Congress—with jurisdiction over trade, taxes, healthcare, Social Security, Medicare and welfare—we at alliantgroup consider this a huge victory for American businesses. Considering Congressman Brady’s prior initiatives in the area of tax reform, we have no doubt that he will continue to work tirelessly in creating a tax code that will work for the benefit of all U.S. businesses—both big and small.
alliantNational, alliantgroup’s national practice, provides subject matter expertise on complex and emerging federal, state and international tax issues as well as legislative and regulatory affairs to help businesses receive timely and precise guidance on all their tax matters. Contact us today to learn how your business can benefit from alliantgroup’s tax consulting services.