Neal Named as Top Dem on Ways and Means Panel

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WASHINGTON – Rep. Richard Neal, a long-time supporter of municipal bonds, was named ranking minority member of the powerful House Ways and Means Committee on Friday.

Neal, D-Mass., won the committee's top Democratic post after Rep. Sander Levin, D-Mich., announced he would step down, and another contender for Levin's seat, House Democratic Caucus Chairman Rep. Xavier Becerra, D-Calif., agreed to serve as California attorney general after being nominated by California Gov. Edmond Brown Jr.

Becerra would replace Kamala Harris, who was elected to the Senate last month, but must first be confirmed by both houses of the California Legislature.

House Ways and Means Committee chairman Rep. Kevin Brady, R-Texas, immediately congratulated Neal.

"Richie Neal and I have worked together for years on issues that will improve the lives of all Americans," Brady said. "He has an impressive understanding of the complex legislation considered by our committee and a sincere commitment to solving problems. Whether it's improving our broken tax code or ensuring equal treatment by Social Security for all workers, he's always been willing to lead on a range of consequential policy issues. I'm pleased to congratulate him on his new position as Ranking Member. We've got a busy year ahead of us and I look forward to working with him."

Levin, 85, had initially backed Becerra to replace him, but switched his support to Neal.

"The Ways and Means Committee will also be in good hands with Rich Neal as the ranking member and I endorse his election," Levin said Thursday. "He has the experience, dedication, and commitment to lead our committee. He has a track record of giving voice to working America, and I look forward to working with him to counter reckless proposals by President-elect Trump or House Republicans that seek to turn back the progress we have made."

A former Mayor of Springfield, Mass., and a member of the House since 1988, Neal, 67, has been a long-time supporter of simplifying the federal tax code and repealing the alternative minimum tax. He has lots of experience working on tax, Medicare, social security and welfare issues. He has been ranking minority member of the Ways and Means Committee's subcommittee on tax policy,

"Neal does understand bonds," said Bill Daly, director of governmental affairs for the National Association of Bond Lawyers.

Earlier this year Neal introduced H.R. 5361, which would allow tax-exempt bonds to be used to finance certain government-owned buildings. Last year, he introduced the Build America Bonds Act of 2015, which would permanently reinstate and expand the BAB program.

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