Two prominent Republican lawmakers are heading for a showdown over
whether Congress should use money from closing tax loopholes to avert
major cuts to Pentagon spending.
House Ways and Means Committee Chairman Dave Camp (R-Mich.) has sent a strong signal he does not support closing tax loopholes this year, which might imperil plans by Sen. John McCain (R-Ariz.).
McCain, the ranking member of the Senate Armed Services Committee, said late last week that he is eyeing the elimination of tax loopholes in the hopes of striking a bipartisan deal on defense sequestration.
Camp invited anti-tax activist Grover Norquist to his panel’s hearing room last week to tell fellow Republicans that closing tax loopholes in 2012 does not make sense.
Doing so would only diminish Camp’s larger objective, shared by other conservative leaders: to lower tax rates as much as possible by reforming the tax code in the next Congress.
“We had about 100 staffers, 20 members, the head of Ways of Means, Dave Camp, who talked about the importance of the pledge in getting tax reform done,” Norquist said in an interview.
Read more: http://thehill.com/homenews/house/234697-gop-clash-looms-on-tax-loopholes
House Ways and Means Committee Chairman Dave Camp (R-Mich.) has sent a strong signal he does not support closing tax loopholes this year, which might imperil plans by Sen. John McCain (R-Ariz.).
McCain, the ranking member of the Senate Armed Services Committee, said late last week that he is eyeing the elimination of tax loopholes in the hopes of striking a bipartisan deal on defense sequestration.
Camp invited anti-tax activist Grover Norquist to his panel’s hearing room last week to tell fellow Republicans that closing tax loopholes in 2012 does not make sense.
Doing so would only diminish Camp’s larger objective, shared by other conservative leaders: to lower tax rates as much as possible by reforming the tax code in the next Congress.
“We had about 100 staffers, 20 members, the head of Ways of Means, Dave Camp, who talked about the importance of the pledge in getting tax reform done,” Norquist said in an interview.
Read more: http://thehill.com/homenews/house/234697-gop-clash-looms-on-tax-loopholes
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