Washington, DC – U.S. Congressman Charles W. Boustany, Jr., MD (R-Southwest Louisiana), Oversight Chairman of the House Ways and Means Committee, today again voiced his strong support for tax reform. Boustany joined members of the Ways and Means Committee and the Senate Finance Committee for the first joint hearing on tax issues since 1940 to discuss taxation, debt and equity.

“The code presents a burden for small businesses, families and individuals around the country and in Louisiana," Boustany said. "The Ways and Means Committee has held several hearings this year to explore the technical aspects of the code and learn more about the best ways to enact meaningful improvements. Reforming the tax code will be a lengthy process, but we must get it right. I appreciate the efforts of Chairman Camp and Senator Baucus to hold this important hearing.”

Earlier in the week, the Joint Tax Committee issued reports on household debt and business debt. The report on household debt examines provisions in current law related to the deduction of interest expenses, while the business debt report focuses on the tax treatment of debt relative to equity and its implications for corporate capital structures.

As chairman of the Oversight Subcommittee, Boustany has held several hearings pursuing problems with the tax code, including health care fraud and improper payments in refundable tax credits.

###