Political Capital

Posts tagged: Dave Camp

The Internal Revenue Service headquarters stands in Washington, D.C.

Photograph by Andrew Harrer/Bloomberg

The Internal Revenue Service headquarters stands in Washington, D.C.

Bloomberg by the Numbers: $13.1 Billion

That’s how much the Internal Revenue Service collected in estate taxes in fiscal year 2013. The Republican-led House may vote to repeal the tax before the Nov. 4 election. The House is set to begin a month-long recess after legislative activity today....

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An associate with Intel Labs greets visitors at the technology showcase in San Francisco.

Photograph by Ryan Anson/Bloomberg

An associate with Intel Labs greets visitors at the technology showcase in San Francisco.

Bloomberg by the Numbers: 1981

The federal research and development tax credit was enacted in 1981. The credit has been frequently extended or modified since then, frustrating business leaders who say the lack of permanence creates uncertainty and complicates investment decisions. The credit lowers the...

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A girl with a water container among debris of destroyed houses in Tacloban, Leyte province on Dec. 7, 2013.

Photograph by Noel Celis/AFP via Getty Images

A girl with a water container among debris of destroyed houses in Tacloban, Leyte province on Dec. 7, 2013.

Typhoon Tax Break: Still Time for Aid

Taxpayers who haven’t filed their 2013 income tax returns yet have a rare chance this year to get a last-minute deduction. Normally, Americans can claim deductions for charitable contributions made through Dec. 31, a deadline that typically spurs a flurry...

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Representative David "Dave" Camp, a Republican from Michigan and chairman of the House Ways and Means Committee, speaks during a news conference in Washington, D.C., on Feb. 26, 2014.

Photograph by Andrew Harrer/Bloomberg

Representative David "Dave" Camp, a Republican from Michigan and chairman of the House Ways and Means Committee, speaks during a news conference in Washington, D.C., on Feb. 26, 2014.

Camp’s Bank Tax Drawing Party Fire

– written with Cheyenne Hopkins When Republican Rep. Dave Camp proposed a version of President Barack Obama’s bank tax, he irritated more than just the handful of companies that would be on the hook for $86.4 billion over the next...

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A testing pool at the General Electric Co. manufacturing plant in Montrose, U.K.

Photograph by Simon Dawson/Bloomberg

A testing pool at the General Electric Co. manufacturing plant in Montrose, U.K.

Bloomberg by the Numbers: $1.95 Trillion

The biggest U.S.-based companies have accumulated $1.95 trillion in offshore profits after adding $206 billion to those stockpiles last year. The multinational companies have an incentive to park profits overseas because federal lawmakers haven’t decided how those funds should be...

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Ronald "Ron" Wyden, a Democrat from Oregon, center, arrives to the U.S. Capitol to vote on the nomination of Janet Yellen as chairman of the U.S. Federal Reserve in Washington, D.C., on Jan. 6, 2014.

Photograph by Andrew Harrer/Bloomberg

Ronald "Ron" Wyden, a Democrat from Oregon, center, arrives to the U.S. Capitol to vote on the nomination of Janet Yellen as chairman of the U.S. Federal Reserve in Washington, D.C., on Jan. 6, 2014.

Wyden Seeks Extension of Lapsed Tax Breaks

Ron Wyden, the new chairman of the Senate Finance Committee, is eyeing a committee vote this spring to extend lapsed tax breaks, says Lindsey Held, a committee spokeswoman. The Oregon Democrat has made the lapsed breaks, such as the research...

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Rep. Dave Camp (R-MI), chairman of the House Ways and Means Committee proposed restructuring the U.S. tax code on Feb. 26, 2014.

Photograph by Andrew Harrer/Bloomberg

Rep. Dave Camp (R-MI), chairman of the House Ways and Means Committee proposed restructuring the U.S. tax code on Feb. 26, 2014.

Blackstone, Other Private Equities Face Corporate Tax Rates in Reform

Blackstone Group, KKR & Co. and other publicly traded private equity firms would be forced to go private or pay the corporate income tax under a plan from the top Republican tax writer in Congress. The proposal from Rep. Dave...

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Representative David "Dave" Camp, a Republican from Michigan and chairman of the House Ways and Means Committee, during a news conference on a proposed restructuring the U.S. tax code in Washington, D.C., on Feb. 26, 2014.

Photograph by Andrew Harrer/Bloomberg

Representative David "Dave" Camp, a Republican from Michigan and chairman of the House Ways and Means Committee, during a news conference on a proposed restructuring the U.S. tax code in Washington, D.C., on Feb. 26, 2014.

Bloomberg by the Numbers: 25%

Corporations would see their top tax rate reduced to 25 percent from 35 percent under a tax-code overhaul by the top Republican tax-writer. “The 979-page plan from Representative Dave Camp would mark the most significant changes to the U.S. tax...

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The Bank of America Corp. branch in Charlotte, North Carolina.

Photograph by Davis Turner/Bloomberg

The Bank of America Corp. branch in Charlotte, North Carolina.

Bloomberg by the Numbers: $86.4 Billion

That’s how much could be raised over 10 years by a tax on banks and insurance companies that House Ways and Means Chairman Dave Camp plans to propose today as part of a federal tax code overhaul. The biggest U.S....

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Representative Norm Dicks, a Democrat from Washington, right to left, Representative J. Randy Forbes, a Republican from Virginia and chairman of the Armed Services Readiness Subcommittee, and Representative Peter Welch, a Democrat from Vermont, Dov Zakheim, president of the Zakheim Group, during the Bloomberg Government Defense Conference at the Newseum in Washington, D.C.

Photograph by Andrew Harrer/Bloomberg

Representative Norm Dicks, a Democrat from Washington, right to left, Representative J. Randy Forbes, a Republican from Virginia and chairman of the Armed Services Readiness Subcommittee, and Representative Peter Welch, a Democrat from Vermont, Dov Zakheim, president of the Zakheim Group, during the Bloomberg Government Defense Conference at the Newseum in Washington, D.C.

Democrats Push for Limits on Nonprofit Election Spending

House Democrats, led by Peter Welch of Vermont, are pushing back against Republican efforts to block any new Internal Revenue Service rules governing nonprofit groups, which are spending millions of dollars on campaigns while keeping their donors hidden. In a letter to the...

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