Congressman David Camp says that tax reform is coming in 2013 no matter who wins the election.
His twin goals are, first, to back America away from the 2013 tax cliff "so that no one's taxes go up," and second to pass tax reform, creating what he calls "a fairer, flatter and simpler tax code that lowers rates, gets rid of lobbyist loopholes, and creates more growth and jobs." Those two goals are pretty much the polar opposite of what the president is seeking.
The surprise is that Mr. Camp remains upbeat about accomplishing both, including finally cracking the code on tax reform by the end of next year. It's a sure thing if Mitt Romney wins, he thinks, and even possible in a second Obama term. "The next president, no matter who that is, is going to have to lead on this issue," he insists.
This is certainly a minority opinion--so why the optimism? "We're facing a train wreck with the tax system in 2013. Pretty much the whole tax code expires next year--the expiration of the Bush tax cuts, the Alternative Minimum Tax hitting the middle class, the estate tax, and all the rest. Given the weakness of the economy, voters are going to demand that we get this done."
Sounds optimistic, but then that's kinda refreshing.