Tax reform won't be completed by end of the year - WICU12 HD WSEE Erie, PA News, Sports, Weather and Events

Tax reform won't be completed by end of the year

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Washington, D.C. -

 

(12/19/13) - It's been the top priority of House Ways and Means Committee for the past few years – reforming the tax code.  And Rep. Dave Camp (R-MI) is leading the charge.
  
"What we want to do is have a tax reform plan that makes the American dream real again," said Camp.

Camp's primary objective – make the corporate and individual tax codes simpler and fairer, which he hopes will lead to economic growth.

"The preliminary numbers we have a very good in terms of economic growth and job creation.  This is the tax bill ever that's been dynamically scored, which will take into account the effect on the economy and on people's lives," he said.

Camp traveled the country this year with his Democratic counterpart – Senate Finance Committee Chair Max Baucus -- to see how an updated tax code would impact people and businesses.  They had hoped to finalize a bill by the end of the year, but that's not going to happen.  So where are they in the process?

"Very close.  The committee's done a lot of good work," explained Camp.

But Politico's senior congressional reporter, Manu Raju, said, "There's just not much appetite among the Republican and Democratic leaders to get a big re-write of the tax code done in this Congress."

Raju thinks it will be an ambitious effort to pass comprehensive tax reform during a mid-term election year.

"Re-writing the tax code would spawn such a major, major war in Washington with all the different interests that are affected by the different pages of the tax code," explained Raju.

But Camp remains optimistic, saying, "The 1986 act was done in an election year, welfare reform was done in an election year – it was vetoed twice by the president.  So those aren't necessarily easy decisions, but I look forward to this debate.

Camp says he's now working to educate other lawmakers who aren't on the Ways and Means Committee about tax reform.  He says that will take some time, but he hopes to do it next year.

 

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