Rep. Dave Camp of Midland chairs hearing on tax reform

Rep. Dave Camp, R-Midland, on Tuesday chaired a House Committee on Ways and Means hearing to examine tax treatment of financial products. "Today's financial product marketplace represents a wide array of products, each of which has its own unique set of tax rules, including debt, equity, mixtures of the two, and financial derivatives such as options, futures and forward contracts, and swaps," Camp said. Tuesday's hearing examined the relationship between the tax code and financial products, a release from Camp's office said. The topic, which was the subject of a Joint Committee on Taxation report, examined what Camp's office called a "potentially inconsistent tax treatment of economically similar financial products."

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