Brady Skeptical of Push to Add Tax Perks to Chips Bill (1)
By Zach C. Cohen, Kaustuv Basu, and Alex Clearfield
May 12, 2022, 6:29 PM; Updated: May 12, 2022, 9:13 PM
House Ways and Means Committee ranking member Kevin Brady expressed opposition to including a tax title in a multibillion-dollar manufacturing and innovation bill lawmakers are negotiating.
“I see no need for a tax title in this conference report, especially one favoring a single industry,” Brady (R-Texas) said Thursday.
Later in the afternoon, he somewhat softened that position, saying that if negotiations a tax package designed as a strong counter to the Made in China 2025 plan “could be worth pursuing.” The Made in China 2025 plan is an initiative by the Chinese government to reduce high-tech imports and invest in ...