November 1, 2017 / 10:03 PM / a year ago

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

WASHINGTON, Nov 1 (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.”

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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