House Ways and Means Committee Chairman Dave Camp, R-Mich., was one of the Republican congressional leaders who met with President Obama on Wednesday to talk about the debt ceiling impasse.
Camp’s office released a statement after the meeting to describe how he “pressed” Obama on comprehensive tax reform that would be revenue neutral, yet not raise taxes.
“We can all agree that the current code is too complex, too costly and too time consuming for families and businesses alike,” said Camp. “However, we cannot confuse tax reform with raising taxes. Past reform efforts are clear on this—for the American people to buy into tax reform, we must not raise their taxes. Tax reform done the right way means more economic growth and more jobs. Any path forward for tax reform must be comprehensive to address both the individual and corporate rates. More than half of all business income is earned by pass-through entities—most of which are small businesses. We cannot leave them out in the cold, nor can we provide relief to employers while leaving the American people to struggle with the cost and complexity of the current code.”
Congressional Democrats are supposed to have their meeting with Obama on Thursday, and he will surely be briefing them on his meeting with the other side of the aisle. Meanwhile Camp’s counterpart on the Democratic side, Sander Levin, D-Mich., the ranking member on the House Ways and Means Committee, plans to talk about his own priorities for tax reform during a speech Friday at the Center for American Progress. Seems like a good time for the think tanks to weigh in with possible solutions for the vexing debt ceiling impasse.