GOP Tax Plan Aims to Simplify 'Appalling' Code

House Ways and Means Chair Dave Camp's tax reform proposal aims to simplify what he calls the nation's "appalling" tax code.

The plan would cut the top income tax rate to 25 percent from 39.6 percent, and impose a 10 percent surtax on high-income earners. And, in a move unusual for Republicans, the proposal would also raise taxes on Wall Street banks.

ABC News political director Rick Klein joins Here & Now's Jeremy Hobson with details.