May 15, 2020 / 8:44 PM / 11 days ago

House Republican backs use of tax incentives to pull companies to U.S. from China

WASHINGTON (Reuters) - The top Republican on the tax-writing House Ways and Means Committee said on Friday it would be “pretty smart” to put in place tax incentives that encourage companies to move production lines from China to the United States.

“Too much of our crucial medicines, medical supplies are in unreliable supply chains in countries like China. I think tax incentives that are targeted toward accelerating the return of those production lines (are) pretty smart to do,” Representative Kevin Brady told Fox News Channel.

Reporting by Tim Ahmann; Editing by Chris Reese

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