Obama Budget for 2015 Backs Pieces of Camp Tax Overhaul

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Some of the larger revenue raisers in President Barack Obama's fiscal year 2015 budget plan approach ideas recently floated by House Ways and Means Committee Chairman Dave Camp (R-Mich.), though they never fully mirror one another.
For example, Obama called for changing taxes on like-kind real property exchanges, carried interest and the largest U.S. financial institutions in his fiscal year 2015 budget outline that the White House issued March 4. Camp made similar suggestions in his discussion draft to remake the U.S. tax code that he released Feb. 26.
“Bottom line,” a senior Treasury official said, “there's a lot of overlap.”

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