Tags: tax reform | Dave Camp

Dave Camp's Tax-Plan Pitch: 95 Percent Can File Their Own Returns

By Wanda Carruthers   |   Thursday, 27 Feb 2014 10:55 AM

House Ways and Means Committee Chairman Dave Camp said he announced his plan to overhaul the nation's tax laws to start a debate, unlike the hurried way the Affordable Care Act was passed.

"This is going to be the opposite of the healthcare bill. We're not going to have to pass it to find out what's in it. The details are out there," the Michigan Republican told MSNBC's "Morning Joe" Thursday.

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"We can have this very needed public debate on how we move this country forward, how we create jobs, how we grow incomes. And this legislation does those things," he said.

Camp unveiled his sweeping reforms to the federal tax code Wednesday in a proposal that emphasized a simpler system. The plan would cut individual and corporate income tax rates, and collapse the existing seven tax brackets to two.

The purpose of the reforms was to spur economic growth, Camp explained. He said he didn't believe Americans should "settle for 2 percent economic growth."

"This actually increases our economy by 20 percent, increases median income by $1,300 a year. It also simplifies our tax code," he said.

By simplifying the process, 95 percent of filers could prepare their taxes themselves and not have to rely on accountants and software, he said. The reforms would have a positive impact on the economy, Camp maintained, because "lower [tax] rates are what help drive economic growth."

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