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Tax Reform Gets the Green Light

February 26, 2013

The push for comprehensive tax reform that makes the tax code simpler and fairer for families, while strengthening the economy so more jobs and higher wages are created, received a significant boost today.  Signifying the importance tax reform holds for House Republicans, it was confirmed today that Speaker Boehner is holding H.R. 1 for a comprehensive tax bill.  In separate events today, both the Speaker and Ways and Means Committee Chairman Dave Camp spoke about the benefits of tax reform.  Camp reiterated his goal of having the Committee act on a bill this year.  Independent economists also verified today that reform would enhance job and wage prospects for American workers.

The Hill: Boehner: Tax reform to be H.R. 1
“Speaker John Boehner (R-Ohio) has reserved a coveted legislative spot for tax reform — H.R. 1….In the current Congress, the top tax-writers in both chambers have vowed to make tax reform a priority this year.  Rep. Dave Camp (R-Mich.), a longtime Boehner ally and the chairman of the House Ways and Means Committee, has made clear that he plans to pass a tax reform bill out of his panel this year.”
Letter to Congress from over 20 economists

“We are writing as a group of academic and consulting economists who believe that the U.S. corporate income tax rate should be reduced from its current 35 percent level to one that is competitive with the rates in almost all other major industrial countries….Such a move would likely lead to a more efficient allocation of resources, increased investment and employment in the United States, and higher wages.”

Bloomberg: Boehner Calls Tax-Law Rewrite One of ‘Highest’ Priorities
“U.S. House Speaker John Boehner said one of his ‘highest’ priorities is to overhaul the U.S. tax system. In remarks prepared for a speech to the Credit Union National Association in Washington today, Boehner said Congress should curtail tax breaks ‘as part of tax reform that lowers rates and helps create jobs.’…The speaker said he supported efforts to rewrite the tax code by Michigan Representative Dave Camp, chairman of the tax-writing Ways and Means Committee.”

Politico: Camp: ‘Green light’ for tax reform
“[Camp] reiterated his goal to at least move a revenue-neutral corporate and individual tax code overhaul through his committee this year. He said he’d ultimately like to see the legislation enacted this year, though that would depend on action in the Senate…He insisted that House leaders are backing his bid for an overhaul, pointing to an announcement today that the symbolically important HR 1 slot is being reserved for a tax rewrite.  ‘I got a green light,’ he said.”