By Mark Schoeff Jr., Investment News.

The promotion of Rep. Kevin Brady to chairman of the House Ways and Means Committee gives new House Speaker Paul Ryan a key partner on tax-reform efforts, according to experts.

Selected by his Republican colleagues earlier this month to head the panel, Mr. Brady, R-Texas, succeeds Mr. Ryan, R-Wisc., in the role. The committee has jurisdiction over tax, trade and entitlement policy.

The gavel is being handed to someone who, like Mr. Ryan, has made tax-reform a legislative signature.