Change in how long-term gains are taxed: Camp would tax 60 percent of capital gains at ordinary income tax rates and exclude the other 40 percent from tax. For many people, their bill would work out to be exactly the same as it is now.
Consider $100 in capital gains. A person in the 25 percent bracket in Camp's plan would pay 25 percent on $60, or $15.
That's exactly what he'd pay if he's like most Americans today, who owe a flat 15 percent on all their gains.
But the bill for filers subject to Camp's 35 percent rate would be slightly higher.
Today, they pay a flat 20 percent rate. So on $100 in gains, they'd owe $20. Under Camp's formula, they would pay 35 percent of $60, or $21, according to Roberton Williams of the Tax Policy Center.
On top of that they would also owe the new 3.8% Medicare tax on investments, which Camp's plan leaves in place.
Add a new bank tax: "Too big to fail" financial institutions would pay a quarterly tax of 0.035 percent on assets in excess of $500 billion, raising more than $86 billion over 10 years.
Change how investment managers are taxed: Managers of private equity, including venture capital, funds are often paid "carried interest" as part of their total pay. Carried interest represents a share of profits from investment funds.
But the managers currently only have to pay the 20 percent capital gains tax rate on it, which is lower than the ordinary income tax rate.
Under Camp's plan, at least some types of carried interest would be taxed as wage income.
"I think we do need to reform the law with regard to carried interest ... particularly when the activity is more like wage income," Camp said Wednesday.
--CNN's Lisa Desjardins and Paul Courson contributed to this report.