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Ryan, Murray Are Close to a Budget Deal — Without Tax Provisions

Representative Paul Ryan (R-Wis.) and Senator Patty Murray (D-Wash.), leaders of the Congressional budget conference, are close to finalizing a deal for the 2014-2015 budgets.  Despite earlier efforts by Democrats in the budget conference to raise revenue by closing tax loopholes (see our prior post), the rumored compromise will raise revenue through fee increases – no tax increases...

Mixed Reaction to Baucus International Discussion Draft

Following the release of Senator Max Baucus’s (D-Mont.) discussion draft on international tax reform, reaction from members of Congress and the business community is mixed.  Sen. Baucus’s counterpart in the House, Representative Dave Camp (R-Mich.), quickly praised Baucus for “his continued commitment to advancing tax reform forward,” but did not comment on the substance of...

Tax Reform Advocates See Budget Conference as an Opportunity, But Skeptical About Short-Term Prospects

Businesses and other organizations advocating for an overhaul of the corporate tax code are pressing on with their reform agenda, despite growing pessimism over the prospect of Congress passing meaningful tax legislation this year. Key lawmakers charged with negotiating a budget deal have been vocal in tempering expectations that the budget deal will result in any “grand bargain” or...

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