Washington, DC – Today, U.S. Rep. Dave Camp (R-MI), the Ranking Member of the Committee on Ways and Means, issued the following statement with regard to the final proposal put forth by the Fiscal Commission co-chairs, Erskine Bowles and former Senator Alan Simpson.
“Chairmen Bowles and Simpson deserve a great deal of credit for undertaking this monumental task and providing the Congress and the nation with a substantive proposal for how to tackle our debt and deficit problems, both of which we must do. Their recommendations detail the tough choices ahead; choices I am willing to make.
“However, I cannot support the proposal for two primary reasons. First, despite generally heading in the right direction on tax reform by broadening the base and lowering the rates, the proposal would impose higher taxes to cover higher spending. These tax increases would impede the economic growth we need to create jobs in this country. Second, the report fails to address the increased health care spending that would result from the new health care law. Health care spending is the number one driver of our debt and if we are serious about reigning in entitlement spending, the health care law must be a part of that effort.
“Again, I want to thank Chairmen Bowles and Simpson, as well as my fellow commission members, for their efforts and for advancing this important debate. As Chairman of the Ways and Means Committee, I intend to use the work of this Commission as the starting point for many hearings on how we tackle our debt and deficit problems while re-establishing a vibrant, job-creating economy.”