Still, he wouldn’t have had to do that if not for other provisions in his plan that mainly benefit corporations or the wealthy, such as eliminating Obamacare’s medical-device tax or maintaining the preferential treatment of investment income for top earners.
A better approach would be to use the proceeds from reducing overpayments to maintain an earned-income tax credit at least as generous as it is now, on a per-recipient basis. If overpayment-reduction isn’t enough, then the money should come from somewhere else.
Camp deserves credit for taking on tax code sacred cows, such as the deductions for mortgage interest and state and local taxes that mainly benefit upper-income taxpayers.
In dealing with the earned-income tax credit, however, the Ways and Means chairman had a chance to show GOP seriousness about market-based approaches to the plight of low-income Americans — and didn’t quite make the most of it.