Tags: Paul Ryan | DaveCamp | tax | reform | Ryan | budget

Ryan's Budget Doesn't Endorse Camp's Tax Reform Plan

Image: Ryan's Budget Doesn't Endorse Camp's Tax Reform Plan

By Melanie Batley   |   Wednesday, 02 Apr 2014 11:00 AM

The budget released by House Republicans on Tuesday does not endorse Ways and Means Committee Chairman Dave Camp's tax reform proposal, a sign that the leadership is preparing to abandon it altogether, Politico reported.

The 2015 tax and spending plan put forward by House Budget Committee Chairman Paul Ryan mentioned Camp by name only once and gave equal emphasis to two other overhaul plans that are only in embryonic stages, neither of which came out of the Ways and Means Committee.

"Congress should consider these and the full myriad of pro-growth plans as it moves toward implementing the tax reform called for under this budget," says the Republican's 1,000-page budget plan, according to Politico. "This resolution calls on comprehensive tax reform and lays out some principles, but it does not embrace any particular plan."

Politico said, "It's a striking indication of the unpopularity of Camp's plan."

Unveiled in February, Camp's proposal would have would cut the top corporate income tax rate from 35 percent to 25 percent, while collapsing the seven individual tax brackets to just two, at rates of 10 percent and 25 percent.

The budget announcement emerged just one day after Camp, the Michigan Republican, announced he did not intend to seek re-election and would step down at the end of his term later this year.

Both Ryan and a spokesman for Camp rejected suggestions that Republicans were trying to distance themselves from the tax proposal, which started three years ago with a commitment by the GOP to implement sweeping reform.

"It's not a final bill," Ryan told Politico. "We're not going to put a discussion draft of an issue that is not yet settled policy among the House Republican Conference in the House Republican budget."

Camp spokesman Sage Eastman told Politico the suggestion that the GOP abandoned Camp's plan is "absurd" and added that the budget and Camp's tax proposals are "perfectly in line."

Going into 2013, the GOP renewed its commitment to push forward an overhaul of the tax code, but other issues over took it, such as the government shutdown and the botched rollout of Obamacare.

It has also been suggested that by avoiding a major proposal on tax reform, the GOP is able to duck debate with the Democrats during an election year, Politico reported.

Related Stories:

© 2015 Newsmax. All rights reserved.

1Like our page

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved