CONGRESSMAN DAVE CAMP ON TAX REFORM ACT OF 2014

FROM:  CONGRESSMAN DAVE CAMP WEBSITE 
Camp Releases Tax Reform Plan to Strengthen the Economy 
and Make the Tax Code Simpler, Fairer and Flatter

Recently, Congressman Dave Camp (R-Midland) released draft legislation to fix America’s broken tax code by lowering tax rates while making the code simpler and fairer for families and job creators.  Camp’s latest draft, the “Tax Reform Act of 2014,” spurs stronger economic growth, greater job creation and puts more money in the pockets of hardworking taxpayers.

Based on analysis by the independent, non-partisan Joint Committee on Taxation (JCT), without increasing the budget deficit, the Tax Reform Act of 2014:

Creates up to 1.8 million new private sector jobs.
Allows roughly 95 percent of filers to get the lowest possible tax rate by simply claiming the standard deduction (no more need to itemize and track receipts).
Strengthens the economy and increases Gross Domestic Product (GDP) by up to $3.4 trillion (the equivalent of 20 percent of today’s economy).

Based on calculations using data provided by JCT, the average middle-class family of four could have an extra $1,300 per year in its pocket from the combination of lower tax rates in the plan and higher wages due to a stronger economy.

Discussing the need to fix America’s broken tax code, Camp said, “It is no secret that Americans are struggling.  Far too many families haven’t seen a pay raise in years.  Many have lost hope and stopped looking for a job.  And too many kids coming out of college are buried under a mountain of debt and have few prospects for a good-paying career.  We’ve already lost a decade, and before we lose a generation, Washington needs to wake up to this reality and start offering concrete solutions and debating real policies that strengthen the economy and help hardworking taxpayers.  Tax reform is one way we can do that.”

CONGRESSMAN CAMP COMMENTS ON BUDGET VOTE

FROM:  CONGRESSMAN DAVE CAMP, CHAIRMAN OF HOUSE WAYS AND MEANS COMMITTEE 

On December 12, the House of Representatives passed, with a bipartisan vote, H.J.Res. 59, the two-year budget compromise negotiated by House Budget Chairman Paul Ryan (R-WI) and Senate Budget Chairwoman Patty Murray (D-WA).  H.J.Res.59 reduces the deficit by approximately $23 billion without raising taxes.    

Following the vote Camp said, “Today, I joined in a bipartisan vote for a two year budget that reduces the deficit and includes reductions in mandatory spending without raising taxes.  This will give Congress the opportunity to work on serious solutions, like tax reform, to strengthen the economy so job creators can grow, hire and increase wages and address our long-term debt crisis.”

CHAIRMAN OF HOUSE WAYS AND MEANS COMMITTEE CAMP'S STATEMENT ON PRESIDENT'S BUDGET

FROM: CONGRESSMAN DAVE CAMP'S WEBSITE
Camp Statement on the President’s Budget
Wednesday, April 10, 2013
Washington, DC – Today, Ways and Means Chairman Dave Camp (R-MI) made the following statement in response to the President’s FY2014 Budget.

"Our country faces great challenges, and meeting those challenges requires that we work together. I welcome the President’s inclusion of reforms to Medicare and Social Security. With more than 10,000 Baby Boomers becoming eligible for benefits each day, it is critical that the White House and Congress work together to protect and preserve these programs for current and future beneficiaries. That is why the Committee will convene a series of hearings beginning next week to examine reforms supported by the President as well as other bipartisan solutions to help our nation’s seniors.

"I also welcome the President stepping forward on tax reform. However, as our economy continues to struggle and millions of Americans have given up looking for work altogether, the President’s plan doesn’t truly fix our broken tax code. In fact, while looking to help corporate America, the President’s plan does not address how complex, costly and unfair the tax code is for American families and small businesses. If the President is willing to do tax reform for Wall Street, then he should be willing to do tax reform for Main Street. Instead, the President chose to raise taxes again to fuel even more Washington spending. Tax reform should not be about making people pay more; it should be about strengthening our economy.

"I am most disappointed that the President’s budget never balances. Independent economists have shown that when we clean up the tax code and get spending back under control, we can strengthen the economy and create up to 1 million jobs in the first year alone. Those are the kinds of solutions we should focus on and work together to achieve. The American people deserve real results."

DAVE CAMP, CHAIRMAN OF THE HOUSE WAYS AND MEANS COMMITTEE CALLS FOR LESS SPENDING, GREATER ACCOUNTABILITY

FROM:  CONGRESSMAN DAVE CAMP’S NEWSLETTER
April 17, 2012
Highlights from the House: Highlights from the House: Camp Calls for Less Spending, Greater Accountability & Comprehensive Tax Reform
Congressman Dave Camp met with constituents across Michigan’s Fourth District last week to listen first hand to their concerns. Camp answered questions about how economic uncertainty continues to dampen the nation’s economic recovery. Residents agreed with  Congressman Camp’s plan to advance comprehensive tax reform to restore economic growth and job opportunities for hardworking Americans. Coupled with tax reform, Washington must be held accountable for the use of taxpayer dollars  rein in out-of-control federal spending, which remains a significant threat to America’s economic future. AsCBS recently reported, the national debt has now increased more during President Obama's three years and two months in office than it did during George W. Bush’s presidency.

With spending and debt at record levels, it is no wonder that more than three-quarters of Americans believe the country is still in a recession. Historically, Small businesses have led the country out of recessions.  Congressman Camp knows their recovery plays a key role to unlocking job growth and getting Americans back to work.

A recent survey shows that with taxes due tonight, cash-strapped small businesses are putting their scarce resources towards tax compliance, rather than growth and hiring. The good news is: the Senate rejected a tax hike yesterday. The better news is: Camp is leading House Republicans in tax reform efforts to boost small business job creation. On Thursday, the House will vote on Camp’s Small Business Tax Cut Act (H.R. 9) to give small businesses a 20% tax deduction. A Fiscal Associates study shows the Small Business Tax Cut with help create more than 100,000 new jobs a year once fully in place, directly benefitting 22 million small businesses. The president has called small businesses the "anchors of our Main Streets" hopefully he and will join the House to provide lower taxes and higher growth to America’s job creators.

CONGRESSMAN CAMP SAYS "ONLY 120,000 JOBS ADDED IN MARCH"

FROM:  HOUSE WAYS AND MEANS CHAIRMAN CONGRESSMAN DAVE CAMP’S WEBSITE
On Friday, the Labor Department announced only 120,000 jobs were added in March, after an increase of 227,000 in February, and worse, there were still a large number of discouraged workers who left the labor force. Friday's numbers confirmed March recorded the fewest jobs added in five months. Congressman Camp knows this level of growth is not enough to restore economic security or make a difference for the millions of Americans who are unemployed. He is committed to working on pro-growth policies to bring certainty and opportunity to the economy. As the nation witnessed last week, it is possible for Republicans and Democrats to set aside differences with the signing of the JOBS Act to produce results for economic growth and job creation.

As Congressman said, “The JOBS Act eases the financial burdens small businesses face so that they can invest, grow and get Americans back to work. Having passed with strong bipartisan votes in the House of Representatives and Senate, with the support of the president, the bipartisan JOBS Act shows the American people that Congress can govern and Washington can work to provide the economic solutions Americans are demanding."

CHAIRMAN OF THE HOUSE WAYS AND MEANS COMMITTEE ADDRESSES INFLATION IN NEWSLETTER

The following excerpt is from Congressman Dave Camp's website:
Highlights from the House: Constituents' Concerns
Congressman Dave Camp met with constituents across Michigan last week to hear their concerns, answer questions about the economic uncertainty that continues to threaten our nation’s recovery. Michiganders continue to voice concerns over the failed energy policies of the Obama Administration that have caused the price of gas to double, rising from a national average of $1.83 when President Obama took office to $3.75 today.

Gas is not the only price increase Americans are facing, according to a recent USA Today article, electricity bills have also skyrocketed. Under the Obama Administration, the average family income is down by more than $1,000, and the cost of eggs has increased by 30 percent, fruit by 14 percent, and meat by 18 percent. With the cost of living continuing to rise and wages remaining low, it comes as little surprise that nearly half of the U.S. feels worse off financially today than they did one year ago, according to a recent Gallup poll.

Relief, especially relief from high gas prices, does not appear to be on the horizon from President Obama. A White House aide recently confirmed that the president lobbied Senate Democrats to vote against the Keystone XL pipeline. If passed, the Keystone XL pipeline would increase our domestic crude supply by an estimated 302 million barrels per year (830,000 barrels a day), $20 billion of private sector investment would be injected into the American economy, 20,000 direct jobs would be created and $5 billion in taxes to local communities would be collected over the project’s lifetime.

HOUSE WAYS AND MEANS CHAIRMAN INTRODUCES LEGISLATION TO CURB CHINA'S TRADE ADVANTAGES

The following excerpt is from Congressman Dave Camp's website:

"Combating China’s Trade Unfair Practices
Last week, Congressman Camp joined several members of the Ways and Means Committee, including Ranking Member Sander Levin (D-Royal Oak), in introducing legislation to protect American consumers, workers and job creators from unfair trade practices by China.  “This legislation preserves our ability to fight unfair subsidies granted by countries like China that injure our industries, cost U.S. jobs, and distort the market. Distorting trade policies are deeply troubling and cannot be allowed to stand."

Congressman Camp also led the committee in a hearing on the president's trade policy agenda and the future of U.S. trade negotiations with U.S. Trade Ambassador Ron Kirk. At the hearing, Camp urged Ambassador Kirk to take a more proactive stance in enforcing U.S. rights in regard to unfair and illegal Chinese trade practices, “There are too many problems with China that continue to put our workers and our businesses at a disadvantage – from indigenous innovation policies to subsidies to intellectual property theft to currency undervaluation – just to mention a few. We must push China on every front, and the Administration must ensure that China’s commitments are fully implemented.”