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Reform Roundup: Opinions on the Likelihood of Near-Term Reform Legislation

In the wake of Congress’ recent debt ceiling deal, several views have emerged regarding the likelihood of comprehensive tax reform legislation being introduced by the end of 2013, as has been targeted by chief tax writers Representative Dave Camp and Senator Max Baucus.  These views differ, but the overall consensus is less than optimistic: Bloomberg/BNA reports that most tax...

Sen. Baucus Reverses Course – Will Keep Tax Reform Proposals Private

Senators making suggestions to Senator Max Baucus (D-Mont.) on his tax reform plan will now get to do so behind closed doors.  Sen. Baucus previously proposed a “blank slate” approach to tax reform, effectively removing all tax expenditures from the tax code.  Sen. Baucus called on his colleagues to submit ideas and defend any tax expenditure they felt should be left.  A...

No Consensus on Whether There is Consensus on Comprehensive Tax Reform

When it comes to the likelihood of tax reform, opinions vary, even among those deeply involved in the process.  Tony Coughlan, a Senate Finance Committee Minority Tax Counsel, said that tax reform is an “iffy proposition” given the distractions caused by the recent scandals and a lack of leadership from the White House.  Congressman Sandy Levin (D-Mich.), the top Democrat on the...

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