Letter: Wanted: massive tax reform
It is the end of the line for U.S. Rep. David Camp and Sen. Max Baucus. Camp will be termed out as chairman of the House Ways and Means Committee at the end of 2014 and Baucus will not be seeking re-election in 2014. In keeping with the origination clause in the Constitution, all revenue bills must originate in the House. To this end, Camp has floated several draft bills to Baucus. Nothing yet has taken hold with the Senate Democrats.
The importance of bringing forward a massive, revenue-neutral overhaul of the tax code cannot be overstated. Corporate America is sitting on upwards of $2 trillion in cash, owing to the uncertainty of future tax changes. Small-business America is facing the double-barreled threat of Obamacare and an uncertain tax code. There is nothing that will encourage economic private-sector growth more than stabilizing and reforming the tax code.
The obstructionist-in-chief, Harry Reid is the singular obstacle for meaningful tax reform.
Camp should proceed with his best legislative bill. The legacy decision for Baucus: Will he be known for bringing forth meaningful tax legislation and working with Camp or for falling off his motorcycle too many times without benefit of a helmet.
ROBERT C. WASHBURN