HOUSE WAYS AND MEANS COMMITTEE CHAIRMAN CAMP'S STATEMENT ON THE U.S. TAX CODE

 FROM: U.S.  HOUSE WAYS AND MEANS COMMITTEE CHAIRMAN DAVE CAMP 

"Every April when I file my taxes, I can’t help but stop and think: there is no better example of Washington inefficiency and ineffectiveness than the tax code.   The tax code is too complicated, takes too much time to comply with and it certainly costs too much.

Yet, some in Washington think taxes need to be even higher.  At a time when we’re all paying more for gas, more for groceries and more for health care, the last thing we need is to pay more to Washington.  

It's time to stand up and say 'enough is enough.'  Washington needs to live within its means, and make the tax code simpler and fairer so our economy gets stronger, more jobs are created and paychecks start going up again.  We’ve already lost a decade due to how weak the economy is, and before we lose a generation, it’s time for real, meaningful tax reform to get this economy back on track.

Earlier this year I released a blueprint for tax reform that does just that.   The non-partisan experts have looked at my bill, and they say it would grow the economy by over $1 trillion.  That means an extra $1,300 in the pockets of average families.

My draft makes the tax code more effective and efficient by getting rid of special interest handouts to lower tax rates for individuals, families and businesses.

We make the tax code so simple, that 95 percent of taxpayers get the lowest possible tax rate by simply claiming the standard deduction – no more gathering all those receipts and filling out all those forms.

This will not only help families, but it will help large and small businesses alike expand, hire new workers and increase benefits and take home pay for American workers.

So this year, as you fill out your taxes, think about what it would be like if you only had to fill out one form.  And on top of that, think about what it would be like if you could trust that Washington wouldn’t waste your hard-earned money."

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.”