This week retiring House Ways and Means Committee Chairman Rep. David Camp released a plan to overhaul and simplify the U.S. tax code. The plan has set off a flurry of activity, angst, and anxiety over key changes and provisions. The word "repeal" appears 121 times in Camp's 979-page proposal. That means there are 121 ways key stakeholders can be agitated by Camp's plan.
That's also 121 ways for lobbyists to try to influence lawmakers on key provisions. The next nine months will be the Olympics of tax as lobbyists for banks, energy companies, realtors, and others try to sway which stakeholders will ultimately be winners and losers of the new plan.
It's unlikely that Chairman Camp will be in Congress to see the first significant change in the tax code since 1986. Even so, the blueprint Camp leaves behind ensures his fingertips will be all over the next chapter of reform.
#SettleUp what Rep. Camp's moves mean for you today on Bloomberg Government.
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