WASHINGTON: House Republicans are unveiling a massive plan to overhaul the nation’s tax system. But don’t expect quick action by Congress.
Just a few hours before the plan was to be unveiled, House Speaker John Boehner distanced himself from the details. The Ohio Republican also wouldn’t promise a House vote on the plan this year.
Rep. Dave Camp, chairman of the House Ways and Means Committee, was scheduled to unveil the plan Wednesday afternoon. The plan would lower the top income tax rate from 39.6 percent to 25 percent. However, there would be a 10 percent surtax on some income above about $450,000 for married couples filing jointly.
When asked whether the Republican Party stood behind Camp’s plan, Boehner said, quote, “You’re getting a little bit ahead of yourself.”