Rep. Dave Camp: Take uncertainty out of tax code

Hardworking families and businesses are struggling in this economy, wages are flat and businesses aren't growing. The culprit? A broken tax code that is hurting our ability to create good-paying jobs.

For more than three years, the Ways and Means Committee has worked to create a plan that would make the code simpler and fairer for families and businesses.

The results of our tax reform plan are clear: Lower rates and a more simplified tax code could create up to 1.8 million new private sector jobs and result in the average middle-class family of four seeing an extra $1,300 per year.

The first step to fixing our broken tax code is addressing tax extenders. The U.S. has the highest corporate rate in the world and is the only country that allows important pieces of its tax code to expire on a regular basis.

Businesses cannot grow and invest when the tax code is riddled with uncertainty.

Some of these tax extenders, such as the research and development credit, are vital to growth and innovation in the United States and have been around for decades.

Some suggest we should "pay for" extending decades-old policy, but that's just code for wanting to raise taxes. There is enough money in Washington, and it shouldn't take more out of the economy. Instead, Washington needs to learn to live within its means.

The real irony, however, is that those who want to "pay for" continuing tax policies don't believe we have to "pay for" continuing spending policies. Only in Washington — where the government serves its own interests instead of those of hardworking taxpayers — does spending take priority over tax relief.

It doesn't make sense to raise taxes on the American people just to keep our current tax rates and policies. Raising taxes also defeats our effort to create jobs and jump-start this economy.

We were once the leader in providing incentives for businesses to locate, invest and innovate in America. Now, we have fallen far behind. This is unacceptable. Washington needs to wake up to this reality and debate real policies that strengthen the economy and help hardworking taxpayers.

Rep. Dave Camp, R-Mich, is chairman of the House Ways and Means Committee.