House Ways and Means Committee Chairman Dave Camp announced Monday that he will not seek re-election to the House in November.
The Republican from Michigan became chairman of the committee in 2011 and was term-limited in that role. He was first elected to Congress in 1990 and has served on the Ways and Means Committee since the mid-1990s.
In February, Camp released draft tax-reform legislation that would cap the value of the tax-exemption for municipal bond interest at 25%, eliminate the exemption for qualified private-activity bonds issued after 2014 and stop the tax-exemption for advance refunding bonds issued after 2014.
"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," Camp said in a release.
House Budget Committee Chairman Paul Ryan, R-Wis. is the odds-on favorite to become the next Ways and Means Committee chairman, having announced his desire to hold the post said, but Rep. Kevin Brady, R-Tex., has shown some interest in the job, a lobbyist said.
Rep. Sandy Levin, the top Democrat on the committee who is also from Michigan, said Camp’s decision, “is a regrettable one for this institution. His devotion to public service has been unswerving, as has been his dedication to his District and the entire State of Michigan. He has brought a warm and dignified touch to his leadership. I look forward to working with him on the unfinished business before our Committee as well as wishing the best to him and his family in the days after he leaves Congress.”
