Washington, DC -- On February 26, 2014, Ways and Means Committee Chairman Dave Camp (R-MI) released draft legislation for the Tax Reform Act of 2014. Over the past three years, Congress has held more than 30 hearings in the process of developing this proposal. Also, Chairman Camp and Ranking Member Sander Levin (D-MI) formed 11 separate bipartisan Tax Reform Working Groups to focus on specific issues that included tax-exempt organizations and charitable giving.
WASHINGTON, DC -- Although the tax reform plan released last month includes provisions to reduce tax rates and increase certain deductions and credits—presumably appealing to many individual and corporate taxpayers—the package could result in significant new tax bills for nonprofits, according to a recent statement from ASAE.
WASHINGTON, DC -- House Ways and Means Committee Chairman Dave Camp, R-Mich., has unveiled his Tax Reform Act of 2014, the most comprehensive tax reform proposal in nearly three decades.…Yet despite the obvious need to reform our broken tax system, the prospects for the Camp tax reform plan have been dismissed out of hand. Members of Congress, from both parties, have dismissed the chances of major tax reform passing.
NEW YORK, NY -- 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 that they’d be willing to increase the deficit by those same trillions.
WASHINGTON, DC -- Fixing our broken tax code is a huge, cost-free opportunity to kick-start economic growth and enable millions of unemployed and underemployed Americans to get back to work. Fortunately, Representative Dave Camp, the chairman of the House tax-writing committee, has proposed a largely pro-growth reform plan.
NEW HAVEN, CT -- House Speaker Brendan Sharkey has submitted a bill that would reverse that by eliminating the exemptions for colleges and hospitals and making them fully taxable.