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Top GOPer: Jamie Dimon Hasn't Called To Complain About My Bank Tax
Top GOPer: Jamie Dimon Hasn't Called To Complain About My Bank Tax
House Ways & Means Chair Dave Camp (R-MI) defended a bank tax in his sweeping tax reform proposal, describing it as one of many ideas he's offering to begin the conversation about overhauling the U.S. tax code.
<...>
The policy, which Camp stressed was in the context of lowering overall tax rates, would levy a modest excise tax on some financial firms with more than $500 billion in assets. "When you reduce their rate to 25 (percent)," he said, "unlike other industries that have to make tradeoffs to get to 25, there aren't many. So I thought it was important that (the financial) industry also had tradeoffs."
He also described as "common sense" unwinding the so-called carried interest loophole, which benefits private equity partners.
In response to a reporter's question, Camp said JPMorgan Chase CEO Jamie Dimon had not called him personally to complain about the policy.
"He hasn't called me," he said.
- more -
http://talkingpointsmemo.com/livewire/dave-camp-jamie-dimon-bank-tax
House Ways & Means Chair Dave Camp (R-MI) defended a bank tax in his sweeping tax reform proposal, describing it as one of many ideas he's offering to begin the conversation about overhauling the U.S. tax code.
<...>
The policy, which Camp stressed was in the context of lowering overall tax rates, would levy a modest excise tax on some financial firms with more than $500 billion in assets. "When you reduce their rate to 25 (percent)," he said, "unlike other industries that have to make tradeoffs to get to 25, there aren't many. So I thought it was important that (the financial) industry also had tradeoffs."
He also described as "common sense" unwinding the so-called carried interest loophole, which benefits private equity partners.
In response to a reporter's question, Camp said JPMorgan Chase CEO Jamie Dimon had not called him personally to complain about the policy.
"He hasn't called me," he said.
- more -
http://talkingpointsmemo.com/livewire/dave-camp-jamie-dimon-bank-tax
Jared Berstein: What’s Not DOA in the Obama Budget
http://www.democraticunderground.com/10024609603
2 replies
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