House Ways and Means Committee Chairman Kevin Brady (R-TX), who has been tasked by Speaker of the House Paul Ryan (R-WI) with leading a task force on tax reform, released a mission statement, set of principles, policy reforms, and desired outcomes for the task force. The tax reform task force is one of six task forces Ryan has established and charged with developing a Republican pro-growth agenda to be presented to the country in the months ahead. The task forces are designed to allow for a bottom-up approach that allows other Republican House members to provide input into the development of the agenda through a series of idea forums.
Representatives Randy Hultgren (R-IL) and Dutch Ruppersberger (D-MD) announced the establishment of a new, bipartisan caucus, which will serve as an advocacy and discussion forum for House members who are supporters of municipal bonds. The Municipal Finance Caucus will focus on protecting the tax-exempt status of municipal debt, understanding how financial regulations treat such debt, and ensuring there is a robust market for municipal securities.