WASHINGTON—House Budget Committee Chairman Paul Ryan of Wisconsin issued the following statement in response to House Ways and Means Committee Chairman Dave Camp’s tax-reform proposal:
“My friend Chairman Dave Camp has put together a bold plan to fix our broken tax code. His plan would get this economy growing and offer much-needed relief to families and workers.
“We don’t have to accept this new normal of slow economic growth. This reform plan will create jobs for Americans across all sectors and boost the wages of workers who feel their economic security slipping away. A simplified tax code will ease the burden on families and businesses that waste too much time, energy, and money trying to navigate a broken code.
“Now is the time for real solutions. No plan is perfect, but the critics must offer an alternative or tell Americans why they continue to defend a nightmarish tax code that works only for the well-connected. Chairman Camp’s plan is a terrific first step toward a much-needed debate over how to best reform the tax code.”
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 equivalent of 20 percent of today’s economy).
• 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