Congress to Begin Look at Tax Code Changes

From the Manufactured Housing Institute’s Week in Review, House Ways and Means Committee Chairman Dave Camp (R-MI) has indicated that the committee will begin the process of overhauling the U.S. tax code, which has not undergone a fundamental retooling since 1986. The committee will hold its first hearing the week of January 17.  In general, both the administration and Camp agree on the concept of broadening the tax base in exchange for lowering individual and corporate income tax rates. Camp has indicated he would like to reduce the current corporate tax rate from 35 percent to 25 percent. MHI says it will work to increase and extend the credit for manufacturers of Energy Star-qualified manufactured and modular homes (IRC 45L) during the process.
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