Top US House tax writer vows tax reform in 2013
- IPL spot-fixing case: Net widens, police watching 3 more players, other bookies
- IPL 2013: Imperious Brad Hodge powers Rajasthan Royals to qualifier
- Sonia Gandhi, PM Manmohan Singh slam BJP for disrupting Parliament, stalling bills
- IPL spot-fixing: 'Bookie' Vindoo was close to BCCI chief's son-in-law, say cops
- Jessica Lall case: Shayan Munshi to face perjury trial
The U.S. House of Representatives' top Republican tax writer on Thursday pledged to tackle a full-scale overhaul of the tax code in 2013, but offered few specifics on how to get it done.
Republican Dave Camp said in the text of a dinner speech that the House Ways and Means Committee, which he chairs, will write, act on and pass comprehensive tax reform legislation in 2013.
He added, Let me repeat that: we intend to move a comprehensive tax reform bill in 2013 - no matter what.
The U.S. tax code has not been thoroughly overhauled since 1986. Since then, it has become riddled with loopholes even as the federal budget has slid deeply into deficit. Bipartisan political support for tax reform has been building in response to the deficit and growing criticism that the tax code is not only inadequate, but to some, unfair. One thing that is virtually undisputed though is that tax reform always takes
leadership from the Oval office, Camp said.
Nearly everyone who worked on the '86 Act has said that it required the leadership of the president of the United States. President Ronald Reagan made tax reform a cause. Camp challenged U.S. President Barack Obama , re-elected to a second four-year term last week, to lead on tax reform, while hewing closely to Republican opposition to the De mocratic pre sident's call for raising tax rates on wealthy Americans.
The president has a choice to make before the end of the year. Does he simply want to stand for higher tax rates on top of a broken code, or will he s upport comprehensive tax reform that strengthens our economy? Camp said. Obama has urged major tax code changes, as well, and has offered a plan to end a number of corporate tax breaks and lower the corporate tax rate.
- Paddy shortfall blamed for mystery death of procurement officer
- 'Bookie' Vindoo was close to BCCI chief’s son-in-law: cops
- Net widens, police watching three more players, new set of bookies
- Suspected Islamists behead soldier on London street
- Malegaon 2006 case: NIA names four right wing terror suspects
- BJP invokes 'sarcasm, ridicule' against PM