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GOP tax plan creates two brackets, lowers rates and eliminates loopholes

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House Ways and Means Committee Chairman Dave Camp Wednesday unveiled a comprehensive tax reform plan that would lower rates, broaden the spectrum of taxpayers and greatly simplify the tax code system, shrinking it by 25 percent. “This legislation does not reflect ideas solely advanced by Democrats or ideas solely advanced by Republicans, nor is it limited to the halls of Congress,” Camp said in...

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