Posts Tagged ‘Dave Camp’

Tax Policy in 2014: Two Developments That May Set The Table For the Future

At first glance, 2014 seemed like a tax policy wasteland, but two developments may have set the stage for important future initiatives.  A wave of tax-driven corporate inversions showed one reason why tax reform is necessary.  A detailed plan by House Ways & Means Committee chairman Dave Camp (R-MI) showed how tax reform could be […]

Magical Thinking on Tax Reform

Everybody loves the idea of tax reform. And tax reform can be very good policy. But advocates often turn to magical thinking about how good tax reform can be, and a recent column by George Will offers two examples of this problem. First, Will writes that “if America’s long-term economic growth [rate] were 3.5 percent, […]

Everybody’s Working for the Weekend

No shutdown, so far. Democrats hated it because of riders weakening Dodd-Frank financial protections and allowing fat-cats to triple their donations to political parties. Republicans hated it because it didn’t stop President Obama from liberalizing immigration laws. But, in the end, the House agreed to fund most of the government through next September, though it […]

Tax Deals: Will Everything Old Be New Again?

Dave Camp on tax reform: “It can be done.” Retiring House Ways & Means Chair Dave Camp remains optimistic. The Hill reports that a deal to extend expiring tax breaks could give Camp’s successor, Paul Ryan, a chance to secure broad GOP support for a tax reform plan. About that tax extender deal… The White […]

Reforming Corporate Taxation

The Cato Institute has organized an online forum to debate pro-growth economic policy reforms. Tax Policy Center scholars Bill Gale, Donald Marron, and Eric Toder have each contributed to the discussion. The U.S. corporate tax system is broken. The current method of taxing the profits of large, publicly traded corporations was designed for an economy […]

New Chairs, New Resistance, and Maybe, New Taxes

As expected: Paul Ryan will succeed Dave Camp as House Ways & Means Chair. Representative Kevin Brady removed himself from consideration earlier this week, though he had more committee seniority. The full House GOP conference approved its  Steering Committee’s chairmanship recommendations, including Jason Chaffetz  to replace Darrell Issa on the Oversight and Government Reform panel […]

Pressure, Power, and a New View on Cuts

Congress is in recess through the mid-term elections. Read the Daily Deduction each Monday until then.  Apple’s new products might not bend, but its tax deals are under some pressure. Later today, the European Union’s European Commission is expected to release its opening decision on Apple’s 1991 and 2007 deals with the Irish government: They […]

Tax Policy in September: Racing to a Grinding Halt?

Have it your way… unless you’re Burger King. Five Senate Democrats—Illinois’ Dick Durbin, Michigan’s Carl Levin, Rhode Island’s Jack Reed, Vermont’s Bernie Sanders and Ohio’s Sherrod Brown—asked Burger King to not move its legal headquarters to lower-tax Canada. They accused it of trying to avoid paying its fair share for roads and other public services […]

Rules, Reform, Taxes and Wealth: No Harm in Trying?

Maybe the duck will walk again? Lawmakers are putting down their markers on anti-inversion legislation. Top Senate Democrats Dick Durbin and Chuck Schumer have introduced a bill to curb “earnings-stripping” by multinational corporations—a practice where firms maximize U.S. tax deductions for interest payments and other business costs while shifting income to low-tax countries. Senate Finance […]

Don’t Count on Much Economic Growth From Individual Tax Reform…Or From Tax Rate Cuts

Can individual income tax reform that cuts rates and eliminates subsidies increase economic growth? How about tax cuts by themselves? The answer is: Maybe, but not by much, according to a new paper by the Tax Policy Center’s Bill Gale and Andrew Samwick, director of The Nelson A. Rockefeller Center for Public Policy and Social […]