LAMBRO: A tax cut for everybody is the only way to go

Lower rates can’t be limited to corporations

continued from page 1

Still, Mr. Camp is “encouraged that President Obama’s talking about tax reform, although I might not agree with everything he says about it. But it’s always helpful when a president is talking about an issue that puts it back on the table.”

Nevertheless, Mr. Obama’s sudden decision to call for only partial tax reform is mystifying because he’s avoided the issue altogether, even as it has been moving on Capitol Hill. Indeed, he shelved the comprehensive tax-reform plan proposed by the co-chairmen of his own presidential debt-reduction commission.

While Erskine Bowles and Alan Simpson have been lobbying for lower tax rates to get the economy running again and shrinking the deficit, Mr. Obama has been pushing for higher taxes on just about everyone — turning it into a fight between Democrats and Republicans.

However, as Mr. Camp pointedly noted, comprehensive reform is at the heart of the plan being promoted by Sen. Max Baucus of Montana, the Democratic chairman of the tax-writing Senate Finance Committee. “You have a situation here where both Sen. Baucus and I want tax reform for individuals as well as businesses,” he said.

At the same time, there was growing support for broad-based tax-rate reform from Democrats at the grass roots. Mr. Camp said that while he was attending a recent tax-reform event in Pennsylvania, that state’s former Democratic Gov. Edward G. Rendell, a liberal, “showed up and said, ‘You have my support.’”

Mr. Camp says he’s “close” to marking up a bill when Congress returns from its August recess. “So that means a very busy fall when we come back,” he said. “My goal is to have the House act before the end of the year.”

It’s been a long process getting to the doorstep of a top-to-bottom overhaul of the tax code. “We’ve done probably 50 hearings between the House and Senate,” numerous hearings around the country and solicited thousands of proposed ideas on committee websites.

As for businesses giving up many of their tax breaks, top executives and business lobbies have told Mr. Camp they are willing to do just that in exchange for a 25 percent tax rate.

The final product “will need to raise $40.2 trillion over 10 years. That’s the revenue target we’ll have to hit,” he said.

At some point when the bill is written, it will be “scored” by the Joint Committee on Taxation to show how much it will reduce the deficit, grow the economy and expand the job market.

It’s clear, though, that Mr. Obama still doesn’t get it. He continues to call for more 1930s-style public-works spending as the cure for a job-starved economy.

Mr. Camp is proposing that we free our economy from a suffocating tax code to unlock needed capital investment, stronger growth, new enterprises and a wave of better-paying jobs. His plan deserves our support.

Donald Lambro is a syndicated columnist and contributor to The Washington Times.

© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.

About the Author
Donald Lambro

Donald Lambro

Donald Lambro is the chief political correspondent for The Washington Times, the author of five books and a nationally syndicated columnist. His twice-weekly United Feature Syndicate column appears in newspapers across the country, including The Washington Times. He received the Warren Brookes Award For Excellence In Journalism in 1995 and in that same year was the host and co-writer of ...

Latest Stories

Comments
blog comments powered by Disqus
TWT Video Picks
You Might Also Like
  • Maureen McDonnell looks on as her husband, former Virginia Gov. Bob McDonnell, made a statement on Tuesday after the couple was indicted on corruption charges. (associated press)

    PRUDEN: Where have the big-time grifters gone?

  • This photo taken Jan. 9, 2014,  shows New Jersey Gov. Chris Christie gesturing as he answers a question during a news conference  at the Statehouse in Trenton.  Christie will propose extending the public school calendar and lengthening the school day in a speech he hopes will help him rebound from an apparent political payback scheme orchestrated by key aides. The early front-runner for the 2016 Republican presidential nomination will make a case Tuesday Jan. 14, 2014, that children who spend more time in school graduate better prepared academically, according to excerpts of his State of the State address obtained by The Associated Press. (AP Photo/Mel Evans)

    BRUCE: Bombastic arrogance or humble determination? Chris Christie’s choice

  • ** FILE ** Secretary of State Hillary Rodham testifies on Capitol Hill in Washington, Wednesday, Jan. 23, 2013, before the Senate Foreign Relations Committee hearing on the deadly September attack on the U.S. diplomatic mission in Benghazi, Libya, that killed Ambassador J. Chris Stevens and three other Americans. (AP Photo/Pablo Martinez Monsivais, File)

    PRUDEN: The question to haunt the West

  • Get Breaking Alerts