Archive for the ‘Tax Proposals’ Category

Dave Camp’s Most Valuable Contribution to Tax Reform

House Ways & Means Committee chair Dave Camp’s most important contribution to the tax reform debate may be this: By proposing a specific, transparent, and fully-realized reform plan, he has made it far tougher for others to credibly promise trillions of dollars in tax cuts without either describing how they’d pay for them or acknowledging […]

Mike Lee’s Tax Plan: An Intriguing Idea That Would Add $2.4 Trillion to the Deficit

An ambitious tax reform plan proposed by Sen. Mike Lee (R-UT) would provide generous new tax credits for families with children and repeal the Alternative Minimum Tax, while at the same time eliminating the standard deduction and nearly all itemized deductions. More than 60 percent of households would pay lower taxes than under current law […]

Tax Reform’s Quiet Protectionism

House Ways and Means Chairman Dave Camp has offered a detailed and thoughtful set of proposals on international tax reform, as did former Senate Finance Chairman Max Baucus in November, 2013. The proposals, however, contain a new form of subtle protectionism. They quietly aim to discourage U.S.-based multinationals from making products overseas and selling them […]

A Camp-ground for Tax Reformers

By proposing a far-reaching and detailed rewrite of the Revenue Code, House Ways and Means Committee Chair Dave Camp (R-MI) did something very few elected officials have done in recent years: He stuck out his neck and proposed radical reform. The initial press response has focused on politics and concluded that neither Republicans nor Democrats […]

Camp’s Plan to Consolidate Higher Education Tax Incentives

The comprehensive tax reform plan recently released by House Ways & Means Committee Chair Dave Camp (R-MI) contains a noteworthy proposal to reform tax benefits for higher education. The plan would consolidate  three separate tax benefits for postsecondary students into a single credit that targets  low- and middle-income families with students enrolled at least half-time […]

Dave Camp’s pitch to overhaul U.S. taxes: An impossible dream?

Unlike many previous Republican proposals to cut taxes, the Michigan congressman specifies how government would pay for them. This is critical, but it’s not pretty. On Wednesday, U.S. Rep. Dave Camp (R-Mich.), chairman of the House Ways and Means Committee, unveiled an ambitious plan to overhaul America’s complicated tax code. This is both a technical […]

Dave Camp’s Tax Plan: A Brave Start But Lots of Gimmicks

Give House Ways & Means Committee Chair Dave Camp (R-MI) all the credit in the world for years of hard work developing his tax reform plan. Just don’t look too hard at the blueprint, which he released this afternoon. On one level, it is a serious framework for reform. For individuals, it would consolidate and […]

Incoming Senate Finance Chair Wyden Outlines His Tax Agenda

Senator Ron Wyden (D-OR), about to become the new chairman of the Senate Finance Committee, said Friday that he aims to eventually rewrite what he described as a “dysfunctional, rotting mess of a carcass that we call the tax code.” But in an acknowledgement of the challenges of tax reform, Wyden said he wants to […]

Questions About Expanding the Childless EITC

As the idea of expanding the “childless EITC” gathers steam, it’s time to start thinking about what the next generation of worker credits should look like. Today’s EITC lifts millions of families out of poverty each year by providing a wage subsidy that encourages work. But it largely skips over childless adults. Politicians from President […]

State of the Union Speech Promotes New Retirement Savings Vehicles

In this year’s State of the Union Address, President Obama announced a new retirement savings account for workers whose employers do not offer any form of pension or savings plan. He also promoted the Automatic IRA, a retirement savings plan that originated at the Retirement Security Project and has been in the Administration’s budget for […]