Congressman Pat Tiberi, (R-OH), Chairman of the Subcommittee on Select Revenue Measures of the Committee on Ways and Means, today announced that the Subcommittee will hold a hearing on the importance of foreign direct investment (FDI) to the U.S. economy and how tax reform might affect foreign-headquartered businesses that invest and create jobs in the United States. The hearing will take… Read more

Good morning and thank you for joining us today for another in the series of hearings on comprehensive tax reform. Under the leadership of Chairman Camp the Ways & Means Committee has been working through a full assessment of the tax code. From this assessment it’s clear the tax code stifles job creation at a time when unemployment rates in Ohio and across the country remain well… Read more

HEARING ON SOCIAL SECURITY'S FINANCES _____________________ … Read more

Recent media accounts confirm the findings of a report from the Joint Committee on Taxation (JCT): a majority of American households do not pay any federal income taxes.  Almost incomprehensibly, significant numbers of both higher and lower earners are paying zero income tax.  A recent Bloomberg article highlighted the fact that the “number of people who reported incomes of… Read more

Washington, DC - Today, Ways and Means Committee Chairman Dave Camp (R-MI) released a public letter he sent to the Internal Revenue Service (IRS) demanding information about its recent investigation into certain donations to non-profit organizations and the agency’s apparent drive to impose gift taxes on these monies.  Camp questioned the process leading up to this action and level… Read more

Last week marked the 10-year anniversary of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). As noted in a report by the Tax Foundation, these tax rates, which were fully phased-in as of 2003, will soon be among the longest lasting tax rates in history. Though it has been suggested on numerous occasions by Congressional Democrats and the Administration that they… Read more

The federal government's financial condition deteriorated rapidly last year, far beyond the $1.5 trillion in new debt taken on to finance the budget deficit, a USA TODAY analysis shows. The government added $5.3 trillion in new financial obligations in 2010, largely for retirement programs such as Medicare and Social Security. That brings to a record $61.6 trillion the total of… Read more

During a recent hearing of the Ways and Means Committee, job creators from across the country shared the challenges their businesses face under the current tax code.  Witnesses expressed support for approaches proposed in the Republicans' Jobs Agenda which calls for lower tax rates, more certainty and greater simplicity. They urged Congress to take action to make America a more… Read more

Good morning and thank you for joining us today for another in a series of hearings on comprehensive tax reform.  Whether at full committee, subcommittee or the Joint Committee on Taxation event, this committee has been actively engaged in a systematic review of the tax code for a very simple reason – today’s tax code is preventing, not promoting, job creation.   And on the… Read more

Today, in a hearing in the Ways and Means Committee, job creators and tax experts discussed how today’s current tax system inhibits, rather than promotes, job creation.  Excerpts from witness testimony demonstrate that lower tax rates, more certainty and greater simplicity in the tax code are vital to a climate ripe for job growth and promoting U.S. competitiveness in the global… Read more