U.S. House Tax Chief Calls for Review of Expired Tax Breaks
The U.S. House’s top tax writer said he will start examining the merits of dozens of expired tax breaks.
Representative Dave Camp, chairman of the House Ways and Means Committee, said in a statement today that he will hold a hearing, probably in April, on the breaks.
Many business tax incentives, including the research and development tax credit, expired at the end of 2011. The provisions include benefits for appliance manufacturers, teachers and multinational financial-services companies.
“Far too many provisions in the tax code are temporary, making it hard for employers to plan, invest and create new jobs for American families,” Camp, a Michigan Republican, said in a joint statement with Representative Pat Tiberi, an Ohio Republican and chairman of a Ways and Means subcommittee. “We look forward to hearing from interested parties about the merits of these tax policies.”
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