House Ways and Means Chairman Dave Camp (R-Mich.) might release a long-awaited draft tax reform bill in either December or January, an aide said on a conference call Monday.
Camp had vowed to mark up a tax reform bill this year, but has recently backed off that promise. The timeline provided by one of Camp’s aides provides the clearest picture yet given about when the Ways and Means chairman might take his next step on rewrite of the code, and suggests that Camp still wants to press ahead with a draft as soon as possible.
Camp and other committee members sat down with GOP leaders last week, who, along with even some Ways and Means members, want to ensure that Republicans keep the heat on the mistake-filled rollout of President Obama’s healthcare law. Camp has also blamed the government shutdown that took up a majority of October for changing his timeline.
The conference call that Camp addressed featured members of the Coalition for Fair Effective Tax Rates and the S Corporation Association, both strong supporters of a tax overhaul that would revamp both the corporate and individual systems.
“We were pleased to hear from Chairman Camp today that comprehensive tax reform remains a top priority for him and we fully back his reform effort. We represent many businesses - both large and small - and all agree that we need comprehensive tax reform that simplifies the tax code to improve economic growth and create jobs,” the effective tax rate coalition said in a Monday statement.
“We look forward to continuing our work with lawmakers, their constituents and other key stakeholders to support Chairman Camp’s campaign for tax reform.”
Camp has kept his tax reform bill close to the vest, and has succeeded in keeping many details under wrap. The chairman said last week that his committee would have to ramp up his outreach to the GOP rank-and-file on tax reform, and a committee aide said Monday that the chairman wanted to his final product to be viewed as a broad package.
“The goal of the Committee has always been to provide a full and complete tax reform package that everyone can view through the lens of comprehensive tax reform, rather than evaluating based on a single provision, and we are excited that as we finalize the bill everyone will have that opportunity,” the aide said Monday.
Camp’s comments come as his counterpart in the Senate, Finance Chairman Max Baucus (D-Mont.), is preparing to push forward with drafts on international tax law and perhaps other areas of the code this week.
That draft is expected by tax lobbyists to include some sort of minimum tax on corporations’ offshore earnings. Camp released a draft on international tax laws in 2011.