Legislative Agenda: 2015, The Year of Reform?

Issue: Tax Rates, Deductions

Where it Stands: Rep. Dave Camp (R-MI), the chairman of the House Ways and Means Committee, retired at the end of the 113th Congress. He championed a wide-ranging, comprehensive tax overhaul, which included a reduction of rates and closing of loopholes—"things that everyone hated," Lyons says. A number of elements in the proposed overhaul included the elimination of mortgage deductions for homeowners and the lowering of charitable rates tax deductions.