GOP Tax Team Lead Talks Corporate Tax Rate, Priorities

The corporate tax rate is coming up in nearly "every conversation" House Ways and Means Committee Rep. Carol Miller (R-W.Va.) has been at recently. Miller is leading one of the ten House Ways and Means GOP tax teams, created to collect information and prepare for tax discussions in 2025, when much of the 2017 tax law expires. Miller's "Supply Chains" team is focusing on energy tax credits and the corporate tax rate, among other issues. This week members met with former Ways and Means Chair Kevin Brady (R-Texas) to discuss the 2017 tax law. Brady and lawmakers reviewed why certain decisions were made in drafting the law, and what provisions may be worth looking into, Miller told Bloomberg Tax. While the 21% corporate tax rate set by Republicans in 2017 does not sunset at the end of 2025, it's set to be a sticking point in negotiations no matter which party wins out in November. Some Republicans have floated raising the rate, and former President Donald Trump has proposed lowering it even further. Bloomberg Tax reporter Samantha Handler spoke with Miller about discussions surrounding the corporate rate and other priorities of her tax team heading into 2025. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.