Statement from the Peterson Foundation on Chairman Camp’s Tax Reform Discussion Draft

FOR RELEASE

Feb 26, 2014

CONTACT


Sarah Stipicevic sstipicevic@pgpf.org

NEW YORK — Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, commented today following the release of the “Tax Reform Act of 2014,” by Ways and Means Chairman Dave Camp:

‎”Chairman Camp deserves credit for putting forward a constructive proposal to address our broken tax code. His draft legislation presents a valuable and long-overdue opportunity for our nation’s policymakers to begin a real conversation about tax reform — an issue at the heart of our nation’s economic future. A well-crafted, bipartisan reform plan would not only make the code more simple and more fair, but could also boost our economy and improve our fiscal outlook over the long term.”

For the Committee on Ways and Mean’s Tax Reform Plan, click here. For the Joint Committee on Taxation’s analysis of the “Tax Reform Act of 2014,” click here.

Further Reading

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Infographic: How Are Capital Gains Taxed?

The capital gains tax, which is a levy on said profits, is categorized as part of individual income tax revenues, but it is administered at a lower rate than ordinary income.