Michigan Republican Dave Camp, chairman of the House Ways and Means Committee, said he will retire at the end of this term. In a statement, Camp said, “During the next nine months, I will redouble my efforts to grow our economy and expand opportunity for every American by fixing our broken tax code, permanently solving physician payments for seniors, strengthening the social safety net and finding new markets for U.S. goods and services.” Another top issue for congressional tax writers is extension of five dozen expired tax credits including renewable energy.
Front-runner to succeed Camp is Paul Ryan, the Budget chairman and 2012 vice-presidential candidate, says Washington Post. Kevin Brady of Texas has more seniority on the committee. The Post says Camp’s decision was widely expected because he was nearing the end of time allowed for committee chairmanship under GOP rules.