November 1, 2017 / 10:09 PM / a year ago

House tax panel chair: corporate tax cut may take 'several steps'

WASHINGTON (Reuters) - The chairman of the House of Representatives tax committee said on Wednesday that achieving a permanent cut in the U.S. corporate tax rate could take “several steps.”

Chairman of the House Ways and Means Committee Kevin Brady (R-TX) listens as U.S. President Donald Trump speaks during a meeting with Republican Congressional leaders about tax reform at the White House in Washington, U.S., September 5, 2017. REUTERS/Joshua Roberts

Republican Representative Kevin Brady, chairman of the House Ways and Means Committee which is working to write a tax reform bill, told reporters: “That’s our goal and I think it’s going to take several steps through the process to achieve that.”

Brady did not elaborate on his comment but said Senate rules for reconciliation bills were a concern. Under Senate rules, tax cuts must expire if they add to the federal deficit outside a 10-year budget window.

Reporting by David Morgan; Writing by Eric Walsh; Editing by Eric Beech

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