Camp proposal – most fundamental tax reform in nearly 30 years: coming soon

more+
less-
more+
less-
Explore:  Flat Tax Tax Reform

House Ways and Means Committee Chairman Dave Camp (R-MI) is on the verge of releasing a detailed proposal for comprehensive  tax reform.

 

The Camp proposal, which may be released in the form of a discussion draft and not in actual legislative language, may appear as early as next week.

 

The Camp proposal will call for the most fundamental reform of the US tax code in nearly 30 years.

 

The US Senate is also working on comprehensive tax reform. In an interview in Bloomberg, the new chairman of the Senate Finance Committee, Ron Wyden (D-OR), affirmed his commitment to tax reform and his belief that the committee can “make a lot of headway” towards reform this year.

 

We believe that the Camp bill will aim to create a fairer, simpler, flatter tax code for individual and corporate taxpayers. For individuals, the proposal will lower marginal tax rates, broaden the tax base, eliminate special interest loopholes, repeal the Alternative Minimum Tax and maintain the current progressivity of the tax code.

 

We are standing by to report to you on the proposal on its release in the coming days.

Written by:

Published In:

Tax

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© DLA Piper | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×