WASHINGTON Feb 21 A bank tax similar to one
that President Barack Obama once proposed may be part of a broad
tax reform package expected to be floated on Wednesday by the
top Republican tax writer in the U.S. Congress, lobbyists and
analysts said on Friday.
Representative Dave Camp, chairman of the tax-writing House
of Representatives Ways and Means Committee, was considering the
bank tax in a draft plan for tax reform, they said late Friday.
The measure will resemble one that Obama, a Democrat,
offered in 2012, they said. That tax would have hit firms with
more than $50 billion in assets.
Camp's bank tax proposal is "a traditional Washington trial
balloon," said Jaret Seiberg, an analyst with Guggenheim
Securities LLC. "By now, the sponsors know the reaction and have
to decide whether to include it in the final version."
A spokeswoman for the Ways and Means Committee declined to
Camp has said he will release a tax overhaul draft next
week. It comes at a time when hopes for comprehensive U.S. tax
code reform before 2015 have all but vanished.
Camp once promised a tax overhaul would pass the Ways and
Means Committee by 2013, but no bill was introduced. Congress is
still deeply divided over fiscal policy.
Camp's draft will also likely include tax changes for
derivatives and the mortgage interest deduction, said Brian
Gardner, an analyst at research group Keefe, Bruyette & Woods.
"We are confident tax reform legislation will not pass this
year," Gardner said in a note to clients.
(Reporting by Patrick Temple-West; Editing by Kevin Drawbaugh,