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Black Statement on Chairman Camp’s Tax Reform Proposal

Feb 26, 2014 Issues: Tax Reform

Washington – Today, Congressman Diane Black (R-TN-06), member of the House Ways and Means Committee, issued the following statement upon release of Chairman Dave Camp’s (R-MI) draft legislation to reform our tax code:

“I commend Chairman Camp for taking this important step towards reforming our broken tax code to make it simpler, flatter and fairer for American families and job creators,” said Congressman Black. “I am proud that House Republicans continue to take the lead in addressing the most important issues of the day for the American people -- such as getting our economy growing again and working to balance our federal budget.”

“A draft this comprehensive will take time to fully review, but I am encouraged by the analysis from the Joint Committee on Taxation that, were this to become law, it would help significantly increase economic output, creating as many as 1.8 million new private sector jobs. I am also happy that language was included from an education tax credit proposal that I coauthored with Congressman Danny K. Davis.”

“This draft legislation finally allows us to have an important conversation about how we reform our broken tax code for the first time in almost three decades. I encourage constituents and stakeholders to weigh in with their thoughts, and I thank Chairman Camp for his strong leadership on this important issue.”

Key Findings from the Joint Committee on Taxation:

•    This plan will create up to 1.8 million new jobs.

•    GDP growth will increase by $3.4 trillion.

•    The average middle-class family of four will gain an extra $1,300 a year.

•    95 percent of filers will get the lower possible tax rate by claiming the standard deduction.

To learn more, visit http://tax.house.gov

 

Background:

10/30/2013: RELEASE: Black and Davis Unveil the Student and Family Tax Simplification Act

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Congressman Diane Black represents Tennessee’s 6th Congressional District. She has been a registered nurse for more than 40 years and serves on the House Ways and Means and Budget Committees.