Lawmakers Added to House Ways and Means and Senate Finance Panels

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WASHINGTON – Six lawmakers are joining the powerful tax-writing House Ways and Means Committee, while two are joining its counterpart, the Senate Finance Committee.

The committees will be faced with tax reform and revenue issues associated with the Affordable Care Act, infrastructure and other programs and proposals in the 115th Congress. Brady has eyed 2017 as the year for tax reform, especially under a Republican-controlled Congress and president. Several market participants expect formal tax legislation will be rolled out early in the new Congress and Trump administration.

For the HWM panel, the House Steering Committee recommended three new Republicans: Rep. Carlos Curbelo, R-Fla.; Rep. Jackie Walorski, R-Ind.; and Rep. David Schweikert, R-Ariz.

The recommendations were set to be approved by the House Republican Conference on Friday. The committee will continue to have 39 members – 24 Republicans and 15 Democrats.

Committee chairman Rep. Kevin Brady, R-Texas, praised the credentials of the new GOP committee members, including Schweikert's ability to help pass tax reform legislation while he was a state representative in Arizona. Curbelo is a former south Florida small business owner.

"David, Jackie, and Carlos are excellent additions to the Ways and Means Committee," Brady said. "They are joining our team at a historic moment as we move forward on pro-growth tax reform, repealing Obamacare, and ensuring Americans finally have access to affordable care."

Walorski said in a statement released on her Facebook page that she looks forward to "fixing the broken tax code."

The three Democrats joining the committee are Rep. Brian Higgins, D-N.Y.; Rep. Terri Sewell, D-Ala.; and Rep. Suzan DelBene, D-Wash.

In 2013, Sewell, a House member supporting the muni exemption, signed a letter sent to leaders of the chamber opposing a proposed cap on the deduction of tax-exempt bonds.

Rep. Richard Neal, D-Mass., the committee's top Democrat who replaced Rep. Sandy Levin, D-Mich., introduced legislation in the last Congress that would permanently reinstate and expand the Build America Bonds program and would allow certain government-owned buildings to be financed through tax-exempt bonds. He also supports simplifying the federal tax code.

In the Senate Finance Committee, Sen. Bill Cassidy, R-La., replaces Sen. Dan Coats, R-Ind., on the Republican side, while Claire McCaskill, D-Mo., a former Missouri State Auditor, replaces Sen. Chuck Schumer, D-N.Y., the new Senate Minority Leader.

Sen. Orrin Hatch, R-Utah, confirmed to continue as chairman of the finance committee on Thursday, said Cassidy's addition could help produce legislation on a bipartisan basis in the current Congress.

"We will take on the monumental challenges of the U.S. tax code in earnest and remake the system so that it's more efficient for families and individuals and keeps American business competitive with the world," Hatch said.

The 26-member committee will continue to include 14 Republicans and 12 Democrats.

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