Please ensure Javascript is enabled for purposes of website accessibility
September 21, 2023

GOP Congressional Members Aren’t Going to Give Up on Their Favorite Pastime to Focus on Tax Reform

Congressman Dave Camp's (R-MI) vision for tax reform is lower rates with fewer credits and deductions. Seems simple enough. If he manages to succeed in getting a bill out of the Ways and Means Committee however, he'll have to get past two major obstacles:
 
1) Congressional Members who like the idea of tax reform, but not actual tax reform:
[Tax reform] has reached a natural decision point where Republicans must decide whether it’s the right time to move forward, a senior House Republican aide said.
 
That aide said a potential worry is opposition from lawmakers outside the Ways and Means panel who are generally supportive of the concept without being steeped in the details and might object to ending specific tax breaks.
2) Bashing ObamaCare is just too fun and easy.
Republicans also want to keep the public’s focus on flaws in the rollout of President Barack Obama’s 2010 health-care law and continue budget talks without opening up the possibility of tax increases.
Ignorance about tax policy and a dragging on in a hopeless fight steeped in political ideology. Good luck with that, Camper.
 

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

Woman wearing a dunce cap writing I WILL NOT on a concrete wall

Look What PwC Made the Australian Government Have to Do

The Australian government released exposure draft legislation yesterday in response to “the PwC matter” and the funniest part is the special email they made to receive comments: [email protected]. Not ConsultingReponse or Sept23TaxReform, specifically PwCResponse. In four separate exposure drafts that amend the Taxation Administration Act 1953 (TAA) and/or the Tax Agent Services Act 2009 (TASA), […]

Internal Revenue Building Sign in Washington DC

The IRS Has Stopped Processing ERC Claims Because ERC Mills Are Scamming the F*ck Out of Them

The IRS announced today that it has issued an immediate moratorium on processing new employee retention credit claims at least through the end of the year. The agency cited “rising concerns about a flood of improper Employee Retention Credit claims,” driven by “aggressive promoters,” as the reason for closing the door on ERC claims. IRS: […]