Today, Ways and Means Committee Chairman Dave Camp (R-MI) issued the following statement in response to American Action Forum (AAF) analysis of the Tax Reform Act of 2014.
"We cannot sit back and accept the status quo -- families are struggling, wages are stagnant and employers are still not hiring. The people I represent in Michigan didn't send me to Congress to warm a chair; they expect me to find real solutions to problems. As this new study proves, tax simplification makes our economy stronger, creates more jobs and can significantly reduce the debt. AAF's analysis reinforces the importance of acting on tax reform and bringing a simpler, fairer code to all Americans and job creators."
AAF's analysis found that the Tax Reform Act of 2014 would:
Create as many as 500,000 new jobs annually in the near term;
Increase GDP up to 5 percent; and,
Provide $1.5 trillion in deficit reduction.
The authors of the AAF study are the think tank's president and former Congressional Budget Office Director Douglas Holtz-Eakin and fiscal policy director Gordon Gray.