EY Tax Webcast

Chairman Camp's comprehensive tax reform proposal: what businesses need to know

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House Ways and Means Committee Chairman Dave Camp (R-MI) has released his long-anticipated tax reform proposal.

The plan, which would reform the US corporate, individual and international tax regimes, includes provisions to:

  • Reduce the corporate income tax rate from 35% to 25% over five years
  • Move the United States to a largely territorial system with a 95% exemption for dividends paid by a foreign corporation to a US corporate shareholder that owns 10% or more of the foreign corporation
  • Require research and experimentation expenditures and certain advertising expenses to be amortized
  • Eliminate the modified accelerated cost recovery system and lengthen depreciation lives for property placed in service after 31 December 2015
  • Flatten individual tax brackets to 10% and 25%, with a 10% surtax on high-income filers

Please join special guest George Callas, a member of Chairman Camp’s Ways and Means Committee tax staff and the Staff Director, House Ways and Means Subcommittee on Select Revenue Measures and a panel of Ernst & Young LLP’s tax thought leaders Thursday, 6 March for a 75-minute webcast on the Camp proposal and its potential effects on you and your business.



George Callas

Ways and Means Committee Majority tax staff and Staff Director, House Ways and Means Subcommittee on Select Revenue Measures


Michael Mundaca

Co-Director of National Tax, Ernst & Young LLP

Michael Mundaca is Co-Director of the National Tax Department and the Americas Tax Center at Ernst & Young LLP.

Prior to re-joining Ernst & Young LLP in 2011, Michael served at the U.S. Treasury Department as the Assistant Secretary for Tax Policy, at the appointment of President Obama, heading the Treasury Department’s Office of Tax Policy and advising Treasury Secretary Geithner on all matters relating to taxation. Upon leaving Treasury, he received the Alexander Hamilton Award, the Treasury Department’s highest honor.

Michael holds a B.A. from Columbia University, an M.A. from the University of Chicago, a J.D. from the University of California, Berkeley, and an LL.M. from the University of Miami.

Barbara Angus

Strategic International Tax Policy Services Leader, National Tax, Ernst & Young LLP

Barbara Angus is Ernst & Young LLP's leader of Strategic International Tax Policy Services. Based in Washington, DC and a member of the National Tax Department, she advises clients on international tax policy and international tax planning.

Barbara previously served as the International Tax Counsel for the Office of Tax Policy, Department of the Treasury, from 2001 to 2005. In that position, she served as the federal government's principal legal advisor on all aspects of international tax policy, including development of legislation, promulgation of regulations and administrative guidance, negotiation of tax treaties, and representation of the United States in the Organization for Economic Co-operation and Development.

Barbara received an AB (mathematics and economics), magna cum laude and Phi Beta Kappa, from Dartmouth College. She received a JD, cum laude, from Harvard Law School and an MBA (finance and accounting), with high honors, from the University of Chicago Graduate School of Business. Barbara has been a member of the adjunct faculty in the LLM program at Georgetown University Law Center, teaching the course on tax treaties.

Robert Carroll

National Director, Quantitative Economics and Statistics, Ernst & Young LLP

Robert J. Carroll is the National Director of Ernst & Young LLP’s Quantitative Economics and Statistics group. Based in Washington, D.C., Bob is an advisor to public and private clients on federal tax policy issues, including revenue and economic impact effects. He leads a group of quantitative analysts who assist clients with tax and economic policy studies.

Before joining EY, Bob was the Deputy Assistant Secretary for Tax Analysis of the US Treasury Department where he served as the Department’s top economist working on tax policy issues. Bob oversaw the Department’s work on developing business tax reforms to improve the global competitiveness of the United States and efforts to reform the tax system. He oversaw the Department’s efforts related to two reports released in 2007 on approaches to make the US income tax system more competitive, as well as the Department’s efforts on behalf of the 2005 President’s Advisory Panel on Federal Tax Reform.

Bob received his B.S. from the State University of New York at Albany and his M.A. and Ph.D. in economics from Syracuse University.

Nick Giordano

Co-Director, Washington Council Ernst & Young, Ernst & Young LLP

Nick Giordano is one of the leaders of Washington Council Ernst & Young and provides services related to tax and budget issues.

Prior to joining Ernst & Young LLP, Nick served as the Chief Tax Counsel of the US Senate Committee on Finance, where he advised the Committee and other members of the Senate on substantive tax policy issues, as well as budget and parliamentary issues. Prior to his position with the Finance Committee, Nick served as the National Director for Tax Legislative Services at Ernst & Young LLP. He has also served as Legislative Director and Tax Counsel for Senator Max Baucus (D-MT), where his responsibilities included coordination of all Senate floor items. Nick has served as the Chair of the American Institute of Certified Public Accountants’ Tax Legislation and Policy Committee and the Chair of the American Bar Association’s Formation of Tax Policy Committee.

Nick is a graduate of Syracuse University and received a JD from The George Washington University Law School and an LLM in Taxation from Georgetown University Law Center.


Eric Solomon

Co-Director of National Tax, Ernst & Young LLP

Eric Solomon is Co-Director of the National Tax Department and the Americas Tax Center at Ernst & Young LLP. Based in Washington, D.C., Eric advises clients on a wide range of transactional and tax policy issues. He has more than 30 years of tax experience in private practice and government service.

Eric served as Assistant Secretary for Tax Policy at the US Treasury Department from December 2006 to January 2009. As Assistant Secretary, he headed the Office of Tax Policy, which serves as the primary advisor to the Treasury Secretary on legal and economic matters relating to domestic and international taxation and compensation and benefits. The Office of Tax Policy plays a leading role in the formulation and implementation of US tax policy. In recognition of his accomplishments as a Treasury executive, Eric received the Distinguished Executive Presidential Rank Award. He also received the Alexander Hamilton Award, the highest award for service to the Treasury Department.

Eric received his A.B. from Princeton University (Phi Beta Kappa), his J.D. from the University of Virginia and his LL.M. in taxation from New York University.