Romney Campaign Press Release - Rep. David Camp: "Mitt Romney Gets it Right"

"Governor Romney has now put forth a comprehensive reform of our tax code to make it simpler, flatter and fairer. If voters put Governor Romney in the White House, his economic reform plans are going to have profoundly positive effects on the economy both in Michigan - which is very personal to me and Governor Romney - and in America as a whole." — Rep. Dave Camp

"Mitt Romney Gets It Right"

By U.S. Rep. Dave Camp

The Detroit News

February 24, 2012

http://www.detroitnews.com

Michigan and America have experienced a few long, hard years. Today, we stand at a crossroads and must choose in which direction we will head.

One path is that of Barack Obama, who has presided over the largest spending explosion since World War II. His path includes more debt, more spending and more taxes. In fact, after running trillion dollar deficits every year of his presidency, Mr. Obama now wants to raise taxes by $2 trillion — much of it being paid by small businesses —to fill in part of the hole he has dug.

In addition to taxing small businesses, the very employers we need to lead us out of this recession, the president plays the age-old Washington game of picking winners and losers. His tax plan singles out disfavored industries such as health care, finance, and energy for negative treatment, while providing special tax breaks for others. In doing so, the president adds to the tax code's burdens and complexity — hardly what America needs.

On the other path stands the Republicans, who have put forth a variety of ideas. Alone among them, Mitt Romney has produced an economic reform package that is worthy of conservative support. While simplifying the tax code and lowering rates, it also puts us on a path to a balanced budget.

Romney's is a bold plan, but it is also a responsible one, and it is no wonder why. Governor Romney has spent most of his career in business, helping to turn around failing companies and start new ones. If competition in the private sector teaches one thing, it is that if an enterprise spends more than it takes in, it is headed for trouble.

This is precisely the situation America finds itself in after three years of President Obama and the problem Governor Romney is trying to fix. He recognizes that taxation and spending must be addressed in a comprehensive fashion. In addition to the deep spending cuts and reform of entitlement programs that he has previously outlined, Governor Romney has now put forth a comprehensive reform of our tax code to make it simpler, flatter and fairer. If voters put Governor Romney in the White House, his economic reform plans are going to have profoundly positive effects on the economy both in Michigan - which is very personal to me and Governor Romney - and in America as a whole.

Perhaps most significantly, Governor Romney proposes to cut individual marginal tax rates across the board by 20 percent, which reduces the marginal rate for all taxpayers. He will also curb deductions, exemptions and credits — especially for higher income taxpayers. The net effect of such far-reaching changes will be to increase investment, increase business activity and increase jobs for American workers. Under Governor Romney's plan, America's economy will be stronger, and our families will be better off.

Another important aspect will be to stabilize the tax code so that individuals and business can plan ahead. The perpetual uncertainty of the past few years, with constant partisan bickering, has not served anyone well. Romney's plan encourages savings and investment by eliminating taxes on interest, dividends and capital gains for middle-income Americans. It does away with the death tax, which forces families to use complicated tax planning mechanisms to pass their assets to the next generation. It eliminates the AMT, which creates enormous complexity and is hitting the middle class. And it brings down corporate rates so that America is competitive with other countries as a place to invest and create jobs.

The reforms Romney is proposing are long overdue. Obama has put the nation on an unsustainable path. While Newt Gingrich and Rick Santorum both have put forth tax reform proposals, only Mitt Romney has put forth a responsible tax reform plan coupled with deep spending cuts and far-reaching entitlement reforms that will place us on the road to a balanced budget.

Romney's powerful economic reforms give reason to be optimistic, for the first time in a long while, that America can and will get back on the track.