WASHINGTON - The incoming Republican chair of the powerful tax-writing committee in the U.S. House of Representatives said Wednesday extending Bush-era tax cuts for all income groups could slip to next year if Democrats don't compromise with Republicans.
"If we don't get cooperation to address it during the lame duck (session) we'll have to do it next year," Representative Dave Camp, in line to take over as chairman of the tax-writing Ways and Means Committee, told Reuters after his party's takeover of the House of Representatives on Tuesday.
Camp said he was willing to talk to the Obama administration about a potential compromise, but still prefers a permanent extension of tax rates enacted under former president George W. Bush.
"I'd prefer to do it as soon as possible but if not, it would be the first item we'd address," he said. (Reporting by Kim Dixon)
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