At the top of the writers of the tax law in the house of representatives to many small business tax reform plan at the meeting, and some large, on Tuesday in his latest offer tax code.
Camp David, the house ways and means committee chairman, has said he wants to through tax reform legislation this year. But the Michigan republican faces an uphill climb and his party and the Democratic Party of tax and spending policies.
Camp plan, has not yet released, will seek to overhaul the tax, but also no organization as the traditional enterprise, often referred to as "direct business covers."
These include such as partnership, not according to the business or retained profits distributed to the shareholders of a company, but through a partner, who is the income tax structure. Since the start of the year at the top of the income tax rate is 39.6%.
This is high, compared with before the collection of enterprise income tax rate of 35%, although many large companies don't pay for the currency selected industry tax breaks.
Transmission range from mom and pop stores, global hedge funds and law firms. About 53% of the total $1.3 trillion in revenue in this category will be in the annual income of at least $2013 and $200000 of taxpayers' returns, according to the non-partisan congressional joint committee on tax.
Both sides quarrel too small business tax. Republicans are firmly opposed to higher rates of wealthy individuals, republican call for job creators. Barack Obama and other Democrats have repeatedly proposed raising the highest tax rate paid by the rich.
A key circle in this struggle, Democrats won the deal ends in January of the "fiscal cliff" independent closed, put forward the top rate of personal income tax of more than us $400000.
New taxes, Democrats hope more basic tax reform put forward a major hurdle, because of republican opposition, emphasized in the comments (Monday) in the senate republican vice battalion.
"It has become more and more common for my friends believe in favor of simply eliminate the so-called loopholes, in order to improve the income of the other side of the aisle, price quotation and then call the process of tax reform," orrin hatch, republican on the senate finance committee, said republican in the senate.
Top democratic taxwriter, senator Max baucus, also not idle tax reform, but there are differences in the details with senate leaders.
Camp draft may include some non controversial measures, such as permanent tax cuts for write down the cost of equipment, some business.
The Obama administration has forced floating big corporate tax transfer file, rather than a company idea, some republican boycott.
 
 



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