Tax Reform

Chairman Dave Camp

Financial Products Draft

Holding Wall Street Accountable And Protecting Taxpayers By Creating A Simpler, Fairer Tax Code: Financial Products Tax Reform

The proposal seeks to modernize tax rules to minimize Wall Street’s ability to hide and disguise potentially significant risks through the abuse of derivatives and other novel financial products – an activity that was a contributing factor to the 2008 financial crisis.  The discussion draft also outlines changes to tax rules designed to provide greater simplicity and uniformity.