Congressman Aaron Schock (R-IL) has been named by House Ways and Means Chairman Dave Camp to serve as a Republican leader for the Financial Services working group. Schock will be one of only two Republicans charged with this effort. The Financial Services working group will oversee the tax treatment of the financial products traded on both the Chicago and New York exchanges, as well as the tax policy as it relates to the banking and insurance industries.
“After two years and more than 20 hearings on comprehensive tax reform, these working groups have been established to design the legislative framework that will ultimately become the tax reform package. This is similar to the path that was taken in 1986 when tax reform was last completed,” said Schock. “In this new role, I will be able to advocate for those Illinois job creators in the financial industry and strengthen our state’s role in the global marketplace. Our goal will be to create a more simple tax code without hurting the jobs here in Illinois.”