<div>                    Brady Releases Tax Reform 2.0 Listening Session Framework  <table><tr><td>July 24, 2018 - PRESS RELEASE</td><td colspan="3"><a href="mailto:Rob.Damschen@mail.house.gov">Rob Damschen</a></td><td> </td><td>(202) 226-4774</td><td> </td></tr><tr><td> </td><td> </td><td colspan="3"><a href="mailto:Jesse.Solis@mail.house.gov">Jesse Solis</a></td><td> </td><td> </td></tr><tr><td> </td><td> </td><td colspan="3"> </td><td> </td><td> </td></tr><tr><td> </td><td> </td><td style="background-color: #3C9CE6"> </td><td> </td><td> </td><td> </td><td> </td></tr></table>    Washington, D.C. – Today, House Ways and Means Committee Chairman Kevin Brady (R-TX) released a listening session framework for “Tax Reform 2.0.” This framework launches the listening sessions that will occur with lawmakers and constituents back home as Ways and Means Republicans work to make our new pro-growth tax code even stronger for our families and Main Street businesses. Upon releasing this framework, Chairman Brady said: <div class="indented">“Every day, businesses wake up and ask themselves ‘how do we become more competitive, innovative, and better?’ That practice has always been foreign to Washington—that ends now. With this framework, we are taking the first step to change the culture in Washington D.C. where tax reform only happens once a generation. We plan to work off this framework to build on the growing successes of the Tax Cuts and Jobs Act and ensure this energized economy continues moving forward.”</div> <a href="https://waysandmeansforms.house.gov/UploadedFiles/Tax_Reform_2.0_House_GOP_Listening_Session_Framework_.pdf">CLICK HERE </a>to view the listening session framework. ###    H O U S E G O P L I S T E N I N G S E S S I O N F R A M E W O R K <div class="indented"><div class="indented">TAX REFORM 2.0</div></div>  <ul><li>The Tax Cuts and Jobs Act has changed the trajectory of the economy for the better. It is succeeding — creating a booming economy with more jobs, higher</li></ul> paychecks, and historic Main Street optimism, and making sure our American workers can compete and win anywhere in the world. Americans are better off. <ul><li>Tax Reform 2.0 is about locking in these tax cuts for middle-class families and small businesses, and changing the culture in Washington so that America never again falls behind its global competitors. Never again will we wait a generation to modernize our tax code. Today we have one of the most competitive tax codes on the planet — let’s keep it that way.</li></ul> <ul><li>Tax Reform 2.0 is a new commitment to improve the tax code each and every year for American families and local businesses — like upgrading the apps on your phone. Just as America’s most successful businesses begin each day asking “how do we become more competitive, more innovative, and better,” each year Congress will</li></ul> examine the tax code and take action to ensure our tax code continues to be competitive, innovative, and always better. We are starting right now.  We are proposing to build on the growing successes of the Tax Cuts and Jobs Act in three main ways:  Protecting Middle-Class and Small Business Tax Cuts   <ul><li>Locking in the individual and small business tax cuts is pro-growth. We will provide certainty for our families, workers, and Main Street small businesses while unleashing even more economic growth in America for the long run.</li></ul> <ul><ul><li>Making the middle-class and small business tax cuts permanent will:</li></ul></ul> <ul><ul><li>Create 1.5 million new jobs</li></ul></ul> <ul><ul><li>Increase wages by 0.9%</li></ul></ul> <ul><ul><li>Increase GDP by 2.2%</li></ul></ul>   Promoting Family Savings   <ul><li>Retirement Savings: Nearly half of working-age adults say they do not expect to have enough savings to live comfortably in retirement. More than one in three workers do not have access to a retirement plan through their employer. Thanks to the Tax Cuts and Jobs Act, businesses and families now have more money in their pockets. It is the perfect time to help local businesses provide retirement plans to their workers—and to help workers participate in those plans so their retirement years are more secure. Tax Reform 2.0 contains a range of proposals to achieve this.</li></ul> <ul><li>Family-Friendly Savings Plans: We want to help families start saving</li></ul> earlier and save more throughout their lives. Tax Reform 2.0 can achieve this through: <ul><ul><li>USA accounts. Creating a new Universal Savings Account to offer a fully flexible savings tool for families.</li></ul></ul> <ul><ul><li>Expanded 529 Education accounts. Building upon the improvements in the Tax Cuts and Jobs Act so families can also use their education savings to pay for apprenticeship fees to learn a trade, cover the cost of home schooling, and help pay off student debt.</li></ul></ul> <ul><ul><li>New Baby savings. Allowing families to access their own retirement accounts penalty-free for expenses when welcoming a new child into the family, whether by birth or adoption. And allowing families to replenish those accounts in the future.</li></ul></ul>     Spurring New Business Innovation   <ul><li>Growing Brand-New Entrepreneurs. Earlier this year, the United States dropped out of Bloomberg’s list of the top 10 most innovative countries in the world. We also know the nation that wins the innovation race wins the future.</li></ul> <ul><li>Start-up businesses are outsized contributors to innovation and productivity as well as job creation. As part of an annual focus on encouraging innovation, Tax Reform 2.0 will help brand-new businesses write off more of their initial start-up costs, and remove barriers to growth.</li></ul> </div>

Brady Releases Phase 2 Tax Reform Framework

U.S. House of Representatives

U.S. House Ways and Means Committee

Republicans want to improve on the Tax Cuts and Jobs Act by permanently extending individual and small business tax cuts, promoting retirement saving, and allowing start-ups to write off more initial costs, according to a listening session framework for “Tax Reform 2.0” released July 24 by House Ways and Means Committee Chair Kevin Brady, R-Texas.

Republicans want to improve on the Tax Cuts and Jobs Act by permanently extending individual and small business tax cuts, promoting retirement saving, and allowing start-ups to write off more initial costs, according to a listening session framework for “Tax Reform 2.0” released July 24 by House Ways and Means Committee Chair Kevin Brady, R-Texas.

Republicans want to improve on the <a href="/lr/resolve/source-document/1xftl" title="Source document">Tax Cuts and Jobs Act</a> by permanently extending individual and small business tax cuts, promoting retirement saving, and allowing start-ups to write off more initial costs, according to a listening session framework for “Tax Reform 2.0” released July 24 by House Ways and Means Committee Chair Kevin Brady, R-Texas.

Republicans want to improve on the Tax Cuts and Jobs Act by permanently extending individual and small business tax cuts, promoting retirement saving, and allowing start-ups to write off more initial costs, according to a listening session framework for “Tax Reform 2.0” released July 24 by House Ways and Means Committee Chair Kevin Brady, R-Texas.