A news report that the European Union and other U.S. tradingpartners are preparing to challenge House leaders' proposal tooverhaul U.S. corporate taxes spurred the plan's leadingcongressional advocate to declare that it would survive “anychallenge that they bring.”

Rep. Kevin Brady, the Texas Republican who chairs thetax-writing House Ways and Means Committee, said he fully expectsother nations to challenge the proposal for a “border adjusted”tax. That plan, which is also supported by House Speaker Paul Ryan,calls for taxing U.S. companies' domestic sales and imports, whileexempting their exports.

“We expect other countries to challenge this provision,” Bradysaid Monday. “Because they have a pretty sweet deal right now.”

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