Camp Confirms Tax Reform Will Cut the Income Tax Code by 25 Percent
Washington, DC – A new video released today by Ways and Means Committee Chairman Dave Camp (R-MI) provides a glimpse into the Committee’s effort to overhaul the tax code – a 25 percent reduction in the size of the federal income tax code. This data point underscores the Chairman’s long-stated commitment to making the tax code simpler and fairer so that families and job creators have more resources to invest and grow while spending less time and money on tax compliance.
“As we look to the year ahead, it is time for Washington to get serious about helping the American people and do something that helps them get a bigger paycheck, helps their kids get a job coming out of college and increases wages to lift more Americans out of poverty,” said Camp. “Tax reform done right can not only make the tax code simpler and fairer, it can create a climate for real investment and growth and promote a meaningful policy discussion about an economic agenda to move America forward.”
The two-and-a-half minute video focuses on how the complexity, confusion and cost of today’s code are hurting families and job creators of all sizes. It also addresses the anger that many taxpayers cite when asked about the tax code – either because of how tax dollars are used to advance special interests or wasted through unchecked fraud, abuse and mismanagement.
Commenting on the frustration taxpayers have expressed about the tax code, Camp added, “Too often today, the tax code is viewed through a single lens that it is designed for special interest groups or funnels hard-earned taxpayer dollars to industries with well-connected lobbyists. That is not tax reform, and it does nothing to help families who are wondering if their neighbor is getting a better deal than they are because of some loophole in the code. Instead, our goal is to make the tax code simpler and fairer and close the loopholes so we can lower tax rates for American families and get this economy growing again. That is real tax reform.”
To view the video click here.
To read the script click here.
Click here to learn about the work the Ways and Means Committee is doing on tax reform.
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