Under current law, American companies pay a 35 percent U.S. tax on profits they earn abroad. They get credits for tax payments to foreign governments and don’t pay the U.S. anything until they bring the money home. House Ways and Means Committee Chairman Dave Camp (R-Mich.), the top Republican tax-writer in Congress, wants to… Read more

In the past two days, both former President Clinton and former Economic Advisor to President Obama, Larry Summers, argued against the President's push to raise taxes on American families, small businesses and investors. Today, another top Democrat, Senate Budget Committee Chairman Kent Conrad, joined in.  As reported in Politico, “Senate Budget Committee Chairman Kent Conrad… Read more

I come to the floor today in support of H.R. 436, The Health Care Cost Reduction Act of 2012.   This bill would repeal two of the harmful tax hikes contained in the Democrats’ health care law – the medical device tax and the restrictions on using health-related savings accounts for over-the-counter (OTC) medication.  The legislation also includes a provision that will… Read more

Yesterday, it was former President Bill Clinton... "However, Clinton did say that Congress would be best off agreeing, at least for the time being, to extend all the tax cuts that are set to expire at the end of the year, including the so-called Bush tax cuts named after Clinton's successor, George W. Bush." (Source: CNBC) Today, it is the President's former top economic adviser… Read more

Good morning.  Today, we will separately consider four health care measures, two repealing portions of the Democrats’ health care law and two advancing new opportunities to lower costs and increase flexibility for health care consumers.   The repeal provisions target two of the taxes in the law – the medical device tax and the ban on using health-related savings accounts for… Read more

Washington, DC – Today, Ways and Means Chairman Dave Camp (R-MI) released the following statement after the Committee approved four health care measures, each on a bipartisan basis.  Two of the bills reported by the Committee would repeal portions of the Democrats’ health care law and two would advance new opportunities to lower costs and increase flexibility for patients: “I am… Read more

(Remarks as prepared) As I prepared for today’s remarks, I looked back on the comments I made last year when I spoke to you.  Whether it was looming tax hikes that still hang over this weak economy, stalled trade deals that have since been signed into law, or the debt limit crisis, which the Budget Control Act pushed off until at least the end of this year or early 2013, last… Read more

This hearing will be the first in a series of hearings exploring tax-exempt issues and related IRS compliance efforts. Tax-exempt organizations, especially charitable organizations, serve an important role in our society.  From the local little league to non-profit hospitals to major universities, tax-exempt organizations are intertwined with our communities and economy.… Read more

Washington, DC - Today, Ways and Means Subcommittee on Oversight Chairman Charles Boustany, Jr., M.D. (R-LA) sent a letter to 15 departments and two agencies across the federal government seeking information about the potential abuse of the Energy Efficient Commercial Buildings Deduction, commonly referred to as the “179D Deduction.”  Documentation recently obtained by the Ways and… Read more

Congressman Pat Tiberi (R-OH), Chairman of the Subcommittee on Select Revenue Measures, today announced that the Subcommittee will hold a hearing on Member proposals related to certain tax provisions that either expired in 2011 or will expire in 2012 (also known as “tax extenders”). The hearing will take place on Thursday, April 26, 2012, in Room 1100 of the Longworth House Office… Read more