One of the first priorities of new House and Ways Committee Chairman Kevin Brady (R-Texas) is expected to be a push to extend tax credits that expired at the end of 2014. That includes important construction-related items such as bonus depreciation, the expensing threshold under the tax code and the production tax credit for wind projects.
Brady has been a major player in tax-reform discussions and budget issues as vice chairman of the Joint Economic Committee and a senior Ways and Means member. His rise to the panel’s chairmanship this fall, after Wisconsin Republican Paul Ryan’s ascent to Speaker, will give Brady more clout to promote a pro-small-business agenda, construction industry officials say.