Ways & Means Ranking Member Dave Camp (R-MI) made the following statement on this morning’s GDP data: Washington D.C. - “This morning’s data simply reaffirm what Americans already know – our economy is hurting.  Congress can and should act to help American families and our economy through these difficult times.  Republicans have offered a plan that, based on analysis by the… Read more

Washington, DC – Ways and Means Ranking Member Dave Camp (R-MI) highlighted the House Republican Economic Recovery Plan today:   Immediate Tax Relief for Working Families: Rather than a refundable credit based on payroll taxes, House Republicans propose reducing the lowest individual tax rates from 15% to 10% and from 10% to 5%. As a result every taxpaying-family in America will see an… Read more

• When the methods and economic models developed by the President’s top advisors are applied to a non-partisan estimate of the tax relief provided by the substitute to H.R. 1, it shows the Republican substitute could create 6.2 million jobs over the next two years. • Let’s be clear about where these estimates come from: the President's senior economic advisors.  •The President’s… Read more

  By Alan Reynolds House Democrats propose to spend $550 billion of their two-year, $825 billion "stimulus bill" (the rest of it being tax cuts). Most of the spending is unlikely to be timely or temporary. Strangely, most of it is targeted toward sectors of the economy where unemployment is the lowest. The December unemployment rate was only 2.3% for government workers and 3.8% in… Read more

Immediate Tax Relief and Assistance for Working Families: • Rate Reductions and AMT Relief:  Lowers, for 2009 and 2010, the bottom two income tax brackets from 10% to 5% and from 15% to 10%, respectively.  This will reduce the income taxes of every American who pays income taxes and will provide a maximum family benefit of almost $3,400 each year.  The substitute also ensures that no… Read more

Washington DC – Ways and Means Ranking Member Dave Camp (R-MI) issued the following statement today after the nonpartisan Congressional Budget Office estimated the real cost of the proposed stimulus bill at well over one trillion dollars due to interest payments that would have to be made on top of the $800 billion in borrowed money: “This stimulus bill is beginning to look like… Read more

CBO, JOINT TAX CONFIRM: TAX CUTS BEAT GOVERNMENT SPENDING 2:1 BACKGROUND: On January 26, 2009, the nonpartisan Congressional Budget Office released its review of the spending in House Democrats’ proposed “economic stimulus” legislation.  This CBO review confirms what Republicans have been saying all along: The Democrat package won’t stimulate the economy NOW, when it needs it… Read more

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Outside of the White House today, Speak Pelosi claimed that Republican voices have been heard in the  discussion of the House Democrat's trillion-dollar spending bill. Majority Leader Hoyer went as far as to say, “This week, the Appropriations, Ways and Means, and Energy and Commerce Committees held markups on the American Recovery and Reinvestment Act to include important feedback… Read more

OPENING STATEMENT OF RANKING MEMBER DAVE CAMP MARKUP OF H.R. 598 – ECONOMIC STIMULUS BILL JANUARY 22, 2009 (REMARKS AS PREPARED) Mr. Chairman, Families all across this nation are rightly worried about what tomorrow will bring.  Our economy is in a recession; the credit markets remain seized up; and additional job losses are predicted for the near future and for some time to come if… Read more