House Ways and Means Chairman Dave Camp (R-MI) on February 26, 2014 released a 979-page “Tax Reform Act of 2014” discussion draft.
This WNTS Insight is a general summary of select business and individual tax reform proposals in Chairman Camp’s discussion draft (the “Draft”), along with links to detailed explanations and revenue estimates released by the Ways and Means Committee and the Joint Committee on Taxation.
The release of draft tax reform legislation by Chairman Camp represents a significant step in presenting a possible path for reducing corporate and individual tax rates, reforming US international tax rules, and simplifying the tax code.
Stakeholders should evaluate the proposals and provide the Ways and Means Committee with feedback on Chairman Camp’s tax reform draft.
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