David Camp tax reform bill is progressive, hits businesses, individuals making $200k plus
Taxfoundation.org says Rep. David Camp's (R-MI) tax bill would make taxes simpler and less expensive for lower income folks who already don't pay much in taxes and increase taxes on people who make more than $200,000 a year. The bill is bitterly opposed by investment bankers and Wall Street, which has turned off its campaign contributions to Republican candidates like Colorado's Rep. Cory Gardner who is expected to challenge Sen. Mark Udall. Few politicians are cheering Camp's bill, and it's dead on arrival for this year.
Top line assessment of Camp's tax reform: Increases progressivity and taxes on business and investment. By William McBride & Scott A. Hodge, TaxFoundation.org