Washington, DC- Today, Ways and Means Committee Chairman Dave Camp (R-MI) announced the Republican members of the subcommittees for the 113th Congress.  The announcement comes a day after the Republican Steering Committee named the Committee’s final Republican Member, Congressman Jim Renacci (R-OH). “I congratulate the new and returning Members of each of the… Read more

Good morning and thank you for joining us today.    As part of the Committee’s ongoing commitment to pursue comprehensive tax  reform in an open and transparent manner, the Committee is holding today’s hearing to allow stakeholders and members of the public the opportunity to share their perspectives on the deduction for charitable contributions. For today’s… Read more

On January 1, 2013, taxes went up by $4.2 trillion, as Clinton-era policies snapped back into place.  On January 2, however, Congress cut taxes by $3.6 trillion, permanently cementing into law the vast majority of the temporary tax cuts first enacted in 2001 and 2003.  So, where does this leave American tax policy?  Answer: still in need of reform.   Last week, the… Read more

Washington, DC - Today, Ways and Means Committee Chairman Dave Camp (R-MI) and Ranking Member Sandy Levin (D-MI) announced the formation of 11 separate Ways and Means Committee Tax Reform Working Groups.      The groups will be led by one Republican Member serving as Chair and one Democratic Member serving as Vice Chair.  Each of the 11 groups will… Read more

Washington, DC - Ways and Means Committee Chairman Dave Camp (R-MI) made the following statement on Tuesday evening in response to President Obama’s State of the Union address: “Tonight the President laid out a vision for America that was formulated on the same failed policies that have left millions of Americans without a job – more taxes and more spending. The… Read more

This Sunday, February 3, marks the 100 year anniversary of the Sixteenth Amendment, more commonly known as the amendment permitting the federal income tax.  This day serves as a reminder of how the income tax has changed since it was first enacted in 1913.  In recognition of the anniversary, House Ways and Means Committee Chairman Dave Camp (R-MI), Senate Finance… Read more

The Wall Street Journal: “Don’t give up on tax reform just yet…” “Don't give up on tax reform just yet…Late last week [Ways & Means Committee Chairman Dave] Camp released the second phase of his comprehensive tax overhaul plan, this one dealing with taxation of financial services.  He says that the current tax treatment of the financial industry inefficiently ‘taxes… Read more

Despite a fractious political environment, efforts in Congress to streamline and update the country’s labyrinthine tax system are quietly picking up steam, adding a twist to the ongoing debate over federal fiscal policy. Michigan Rep. Dave Camp, the Republican chairman of the House Ways and Means Committee, last week released his second “discussion draft” related to a comprehensive… Read more

Washington, DC - Today, Ways and Means Committee Chairman Dave Camp (R-MI) released a financial products discussion draft as part of the Committee’s broader effort on comprehensive tax reform that significantly lowers rates.  The proposal seeks to modernize tax rules to minimize Wall Street’s ability to hide and disguise potentially significant risks through the abuse of… Read more

Tomorrow the House will vote on a short-term debt limit extension tied to a requirement that the House and Senate each pass a budget resolution. Donald Marron has written an excellent and succinct substantive analysis of the bill. The House bill fits well with the strategy I advocated last week on this blog and in a Wall Street Journal op-ed. I hope the House passes it… Read more