Dave Camp’s Tax Reform Plan Cuts Lots of Breaks, Trees

The top Republican tax-writer in Congress proposed restructuring the U.S. tax code to eliminate dozens of breaks to pay for reductions in the corporate and individual rates. The 979-page plan from Representative Dave Camp would mark the biggest changes to the U.S. tax system since 1986, affecting every part of the U.S. economy. The proposal includes new limits on breaks for health insurance, retirement savings and mortgage interest. The plan would repeal breaks for student loan interest, moving expenses, accelerated depreciation, and state and local taxes. [Bloomberg]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

Where Does Janet Yellen Want to Be Taxed?

Presuming that Janet Yellen, our current secretary of the Treasury, lives in California, her marginal tax rate might be as high as 13.3%. That’s a little scary for those of us living here in Maryland. Good thing she knows how to handle finances. For that kind of tax rate she might easily be persuaded to […]