Rep. Camp: Tax Reform Draft Coming Next Week

Image: Rep. Camp: Tax Reform Draft Coming Next Week

Thursday, 20 Feb 2014 07:31 AM

By Elliot Jager

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House Ways and Means Committee Chairman Dave Camp has written to members of the tax-writing panel to say he will issue a "comprehensive discussion draft" on tax reform next week, The Hill reported.

Camp is pressing ahead against the wishes of some Republicans who do not think it is practical to offer a new tax code proposal during an election year. Such a tax plan would probably call for ending popular exemptions, in exchange for lowering rates on individuals and corporations.

Many Republicans prefer to keep the attention of voters focused on the failures of Obamacare rather than the complexities of tax reform, according to The Hill.

The Michigan Republican is undeterred.

"We can choose to have a real discussion about what tax reform can mean for American families and employers, or we can choose to cower to special interests and maintain the status quo," Camp said in his message to committee members.

"Clearly, I choose the former," he wrote. While some "don't want to look special interests in the eye and say the game is up … it is. We simply cannot afford the business-as-usual mentality that keeps Washington comfortable but complacent."

Camp has previously said he would like to curtail tax breaks, cut the top individual rate from 39.6 percent to 25 percent, and reduce the top corporate tax rate from 35 percent to 25 percent.

The goal would be to simplify the tax code and boost chances of economic recovery, according to The Hill.

Camp also told panel members that the Congressional Budget Office had agreed to assess the impact of the proposed tax code changes on the economy.

Democrats have criticized "dynamic scoring" by the CBO, saying Republicans use the data to overstate the economic benefits of tax cuts,  Roll Call reported.

Democrats on the committee say they did not receive Camp's discussion draft. "We have not been briefed on it. This is written exclusively by Republicans," a Democratic staffer said, according to Roll Call.

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