President of the House Ways and Means Kevin Brady
Joshua Roberts | Reuters
Representative Kevin Brady, the Texas Republican who played a major role in bringing Congress to Congress in 2017 with former President Donald Trump’s tax cut law, said Wednesday he would retire from Congress in the end of his current term.
“I will retire as a deputy,” Brady revealed in a speech during an economic conference hosted by the Woodlands Area Chamber of Commerce. “This quarter, my 13th, will be my last.”
Brady, 66, served as chairman of the powerful House Ways and Means Committee, the chamber’s top tax drafting body, for two terms. He became the group’s ranking Republican in 2019, after Democrats took majority control of the House.
Brady faced a term limit in his role as Republican leader of the committee and said that fact weighed heavily on his decision to retire.
“Because House Republicans limit the committee’s leadership to six years, I won’t be able to chair the forms and media committee in the next session when Republicans regain a majority,” Brady said.
“Did that factor influence the decision? Yes, some.”
But Brady said he still sees these limits as a “good thing” because they “ensure that legislators who work hard and work effectively someday have the opportunity to lead and bring new ideas to all the committees we have.”
Brady, anticipating questions from the curious about his reason for retiring, also said he “did not” absolutely leave Congress because “he has lost faith in a partisan Congress and in the political system.”
“After 25 years at the nation’s Capitol, I still haven’t seen any problems we can’t solve or overcome. Not one.”
He added: “Given the times, I’m sure some will say, ‘It’s Trump’s fault.’
Brady’s highlight in Congress came in 2017, when the committee he led took on responsibility for drafting the tax cuts legislation Trump had promised during the campaign and which he pushed for during his first year in office. mandate.
The $ 1.5 trillion tax bill, worth $ 1.5 trillion, reduced taxes for businesses, reduced taxes for individuals, and amended the rules for tax deductions.
Trump signed the legislation on December 22, 2017. Republicans said the tax review would increase hiring and business investment and put more money in the pockets of Americans, while Democrats said the changes would disproportionately help. to the richest companies and winners. Critics also pointed to the huge burden projected that the bill would add to federal budget deficits.
Trump himself said before signing the bill that business cuts were “probably the most important factor” in the plan.
More than three years later, the impact of the law remains a source of heated debate. Supporters, especially those in Trump’s White House, credited the cuts with the creation of a strong workforce that was disrupted by the coronavirus pandemic. Critics say the bill increased the deficit to provide a temporary stimulus.
However, the bill meant the legislative achievement that Trump signed during his single term. Brady, in a statement, announced the cuts Wednesday, saying “they lifted millions of Americans out of poverty and gave hope to so many that the old tax code had left behind.”
“The United States regained the title as the world’s most competitive economy, and brought manufacturing jobs and investments to America from abroad,” Brady’s statement said.
Brady, who is now turning twenty-five in Congress, said in the statement, “I will leave Congress the way I entered it, with the absolute belief that we are a remarkable nation, the largest in history.”
“The American dream is still alive and well for anyone who wants to work for it until it becomes theirs. That’s why I’m optimistic about our country, because I have faith in our people,” he said. “I’ve seen up close how remarkable you are, and as I leave Congress I’m excited about our future.”