The House Ways and Means Committee held a hearing to consider changing the tax treatment of closely held businesses in the context of overall tax reform efforts.
Wednesday’s hearing was the latest in a series of hearings that the Ways and Means Committee and the Senate Finance Committee have been holding on tax reform. Ways and Means Chairman Dave Camp, R-Mich., noted that closely held businesses can range from midsized manufacturers to local law firms to Main Street restaurants that sponsor the local Little League team.
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