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Media debt ceiling fight as the next large fight we can expect here in Capitol Hill that is it an opportunity to attach.
Tax reform is is the debt -- So many people in the Republican Party especially have seen it.
I see it as an opportunity to address entitlement reform but could also be used for tax reform.
Well it could be I think used for so any -- to advance tax reform I'm I'm on that history.
And it could be an opportunity certainly to get the kind of process and procedures to move tax reform through the congress.
I think I very difficult to have a tax reform bill just deposited in the debt limit in total -- Again I think it's an opportunity that I had that -- and do you fear that perhaps.
In exchange for entitlement reform -- tax reform would have to be a revenue.
Raiser in in a static sense.
If you attached to this debate I'm very much interest in revenue neutral tax reform.
I think that's a very important aspect between the president received significant amount of revenue at the end of last year.
You we're gonna have more revenue coming into the federal government this year than ever before in history of the country.
I think it's about how can we get it pro growth.
Tax policy than the more -- -- -- off the top of the more difficult it is the bill was truly pro growth in nature.
He put down 25% as your top rate for both them corporate and an individual on the individual side since you've.
Sort of staked that position now the tax code has moved even further from that we -- now -- operative they're -- point 6%.
Still doable on both sides it is doable on both sides and I think you want to make sure there's parity there so that those past serenity is a small businesses that are.
That really account for 65% of job growth in the last twenty years that those are disadvantaged and so to have.
A lower corporate rate because we really have to look at the international tax.
In order to come out with corporate -- -- to compete for the highest in the world we can't sustain us we need to lower rate.
-- you can't have.
Small businesses mainstream family farms -- nine point six -- Frankly it's really 42 -- in obamacare taxes and 42% rate with corporate perfectly fine.
I think parity there is more important where -- at the same level.
So that you organized because it's the best way to do business because the tax.
Requires you to do you really have to do it together you believe I do think -- -- together for two reasons one.
I don't think you want to disadvantage.
In the main street America because.
At a high rate -- the corporate America so much lower -- it would be very difficult to sustain.
And secondly the corporate side is is less than half of the economic activity United States if you really want to get the economic.
Bang for your -- you really have to do both because most businesses are organized as partnerships -- Kennedys and those are taxes and individual.
And so that's why you have to have the same thing for ball.
Talked a bit about the international side which seems to be the most complex -- this especially when you have so many companies moving intellectual property so easily overseas.
How do you ensure that by going to a more territorial system and you don't have this mass exodus.
Intellectual property and assets overseas simply for the purpose of tax avoidance.
Well right now we're at a disadvantage because our US based companies that we know the business around the world to get into markets and others and other areas.
Tactics -- somebody who they manufacture Kleenex and he said we're not gonna -- air around the world.
We're gonna manufacture that product in an economy that -- -- the profits they make overseas or double taxed like any other nation in the world so what we want to do.
As have those dollars -- invested in the United States not stranded overseas through their investments -- part of it is having those dollars come back.
Lowering the rate also does away with a lot of the incentives.
For some of the very.
Profits or intellectual property.
-- around the world so part of that is lowering the rate and also will need to fix erosion provision new dimension.
Companies just can't go to zero tax jurisdiction and those are there answering have to have a provision that's why it was important to have.
Those days suggestion -- draft on international tax in the public domain for some time for them for damage.
Some have some have focused on camp option C it's -- 15% minimum.
As of that puts American companies and it.
Competitive disadvantage internationally would would you mind addressing that what we're at a disadvantage now.
So the question is how do we know really how are we able to compete with -- other foreign nationals had there.
They're taxes -- the border don't have to pay a penalty for bringing dollars home.
It's estimated almost a trillion dollars as overseas if we get -- -- -- -- private dollars to get those invested here that will help.
Our economy grow and help people get jobs -- get higher wages and get the economy growing at a faster rate.
The -- -- growing and now it's unacceptable.
Unemployment level is unacceptable and do everything I can't try to turn things around I think the best way to do that right now is through a comprehensive tax reform plan.
That simplifies the code -- the average American can fill up their own taxes.
And does -- in a way that we are spending six billion hours here trying to comply.
Chairman of the house Ways and Means Committee Dave Camp thanks so much for your time thanks a lot to you.
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