Congressman Dave Camp (R-MI), Chairman of the House Committee on Ways and Means, and Senator Max Baucus (D-MT), Chairman of the Senate Committee on Finance, today announced that they will convene a joint hearing of their two committees to examine the tax treatment of financial products.  The hearing, titled “Tax Reform and the Tax Treatment of Financial Products,” will take place at… Read more

Thank you Chairman Baucus, and thanks to all of you for joining us for the second joint hearing this year of the House Ways and Means Committee and Senate Finance Committee.  Having served on Ways and Means for a number of years, I will say that holding one, let alone two, joint hearings with these two committees is highly unusual and reflects the deep interest Chairman Baucus and I… Read more

Today, Ways and Means Chairman Dave Camp (R-MI) released the following statement in reaction to the November jobs report from the U.S. Department of Labor.  A net total of 120,000 jobs were created and the unemployment rate for November was 8.6 percent.   "It is good news that we had positive job growth, but we must do more to strengthen our economy and provide the certainty… Read more

The Social Security Disability Insurance program has been the source of great debate both before and since its cash benefit program was signed into law in 1956 by then President Dwight D. Eisenhower.   Soon after Social Security was established in law in 1935, serious discussion emerged whether to expand the program to workers who became permanently and totally disabled before age… Read more

In January 2009, the President’s economic advisors projected that his trillion-dollar stimulus plan would keep unemployment from rising above 8 percent, and the unemployment rate would be 6.2 percent today.  Instead, we’ve now had 34 consecutive months of unemployment above 8 percent, and the current unemployment rate is 8.6 percent.  Going ahead, if jobs continue to be created… Read more

Washington, DC – Today, Ways and Means Chairman Dave Camp (R-MI) released the following statement in reaction to the President signing a repeal of the three percent withholding law on certain payments made to vendors by government entities, legislation that modifies the income definition used to determine eligibility for certain health programs in the Democrats’ health care law and… Read more

Washington, DC – Ways and Means Republicans, led by Social Security Subcommittee Chairman Sam Johnson (R-TX), sent Government Accountability Office (GAO) Comptroller General Gene Dodaro a letter inquiring into the general oversight and effectiveness of the Social Security Administration’s (SSA) representative payee program.  A representative payee is appointed when a Social… Read more

Washington, DC – Rep. Dave Camp (R-MI), Ways and Means Committee Chairman and member of the Joint Select Committee on Deficit Reduction, released the following statement:  “America is facing a debt and jobs crisis.  Congress must stop out-of-control spending, strengthen our economy and secure entitlement programs sooner, not later.  It is deeply regrettable that my… Read more

Washington, DC – Today, Ways and Means Chairman Dave Camp (R-MI) released the following statement in reaction to the Balanced Budget Amendment vote. "The debt, which hit a staggering $15 trillion this week, is weakening our economy and is costing us about 1 million jobs.  A Balanced Budget Amendment would force Washington to stop spending more money than it takes in, which would… Read more

This morning, the Ways and Means Subcommittee on Select Revenue Measures is holding a hearing with tax professionals in an ongoing effort to gather comments and analysis of the Committee's territorial tax reform discussion draft.  The Ways and Means draft is a part of the Committee’s broader effort on comprehensive tax reform that would lower top tax rates for both individuals and… Read more