WASHINGTON, D.C. – House Ways and Means Committee Chairman Kevin Brady (R-TX) issued the following statement in response to President Obama’s remarks regarding the Treasury Department’s new tax regulations:

“While I’m pleased that President Obama acknowledged how our broken tax code continues to hurt our economy, it’s clear that his new regulations won’t solve the problem. Americans will continue to watch their jobs move overseas until Washington works together on comprehensive, pro-growth tax reform.

“Ways and Means Republicans are committed to real, pro-growth solutions that will help grow our economy and protect American workers. We will advance comprehensive tax reform that encourages businesses to locate and invest in the United States, growing jobs and opportunity here at home. That’s the leadership Americans are looking for, and that’s the leadership Congress will deliver.

“We will also continue reviewing Treasury’s new regulations, including how the proposed retroactive tax changes will impact our economy and affect American jobs, as well as Treasury’s authority to issue such sweeping tax changes without consideration by Congress. We’ll conduct thorough oversight to protect workers and job-creators from regulations that will make it even harder for America to compete.”