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Dozens of tax breaks to end under GOP plan

The top Republican tax-writer in Congress proposed restructuring the U.S. tax code to eliminate dozens of breaks to pay for reductions in the corporate and individual rates.

By Richard Rubin | Updated on February 26, 2014
House Ways and Means Committee Chairman Rep. Dave Camp, R-Mich., outlined a major plan to rewrite the nation’s tax code. (AP Photo/J. Scott Applewhite)

Feb. 26 (Bloomberg) — The top Republican tax-writer in Congress proposed restructuring the U.S. tax code to eliminate dozens of breaks to pay for reductions in the corporate and individual rates.

The 979-page plan from Representative Dave Camp would mark the most significant changes to the U.S. tax system since 1986, affecting every part of the economy and reflecting politically unpopular tradeoffs that sparked immediate complaints from business groups.

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