“ If we are to unlock new opportunities for job creation and strengthen the economy, then we must take even larger steps toward comprehensive tax reform ,” House Ways & Means Committee Chairman Dave Camp (R-MI) said in a speech this morning highlighting the need to fix our broken tax code, a key plank of the Plan for America’s Job Creators . Speaking at a policy seminar in Washington, Chairman Camp outlined Republicans’ commitment to fueling job creation by stopping the coming tax hike on small business job creators and reforming the tax code: “I can firmly say our goal is: One, block massive, job-killing tax increases; and, two, enact – not just pass – comprehensive tax reform. … How? Simple: in addition to extending current low-tax policies originally enacted in 2001 and 2003, we should enact fast track procedures to compel comprehensive tax reform next year. There are 34 examples of fast track already in law. The one most of us recognize is TPA – Trade Promotion Authority. “This is an idea House Republicans support, the Speaker endorsed it earlier this week, and I urge the Senate and the President to get behind it as well. Doing so would send a clear, strong message to the markets, to employers and families that Washington is serious about reforming our tax code and putting us on a path to sustained economic growth. ” Chairman Camp also talked about how the House-passed budget includes an outline for pro-growth tax reform that lowers rates and closes loopholes . “It is time America’s tax code put the American economy first,” he said. The Wall Street Journal noted that Chairman Camp’s comments were part of a GOP effort “to seize the initiative” while President Obama has been “less enthusiastic” about fixing the tax code . “The administration hasn’t proposed an overhaul” and “ it won’t do so ,” Bloomberg added. That’s unfortunate, especially when, according to a recent national survey , eight in ten small business owners cite overtaxation as a reason it’s harder to hire new workers. Speaker Boehner, a former small business owner himself, said earlier this week that “we shouldn’t wait until New Year’s Eve to give American job creators the confidence that they aren’t going to get hit with a tax hike on New Year’s Day.” That’s why the House will act this fall to stop the coming tax hike on small businesses and take another step towards fixing our broken tax code. Visit the Ways & Means Committee’s website to read the full text of Chairman Camp’s speech .
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Fueling Job Creation by Stopping Small Business Tax Hikes & Reforming the Tax Code