Recently, House Ways and Means Committee Chair Dave Camp (R-MI), unveiled his comprehensive tax reform plan. Camp's ambitious plan, however, was essentially dead on arrival in both chambers.
Recognizing the political realities of trying to move legislation like comprehensive tax reform in an election year, Chairman Camp will try the incremental approach instead. In a memo to Ways and Means Committee members this week, Camp promised to take several steps over the next couple of months, "paving the way for tax reform by making incremental progress towards full reform."
A key component of this incremental approach will be an effort to make certain tax extenders, which expire and have to be renewed every year, permanent. Camp writes, "I have heard from many Members on this issue, all of whom recommended taking an approach similar to that of the Administration, i.e., that certain tax extenders should be considered, and treated, as permanent parts of the baseline off of which tax reform is enacted."
The language used by Camp suggests that he may abandon looking for offsets to pay for making these extenders permanent.