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Bloomberg: Tax Reform Will be Harder This Time Around

According to an analysis by Bloomberg, tax reform will have a tougher time succeeding today than the last major overhaul of the tax code in 1986.  Bloomberg attributes this increased difficulty to the disagreement over revenue neutrality.  In the 1986 reform, lawmakers maintained revenue neutrality by lowering top income tax rates, closing certain tax loopholes, and increasing...

Senate Races that Could Affect Reform

In politics, it’s never too early to think about the next election.  In particular, two upcoming Senate races could have an outsized effect on the prospects for comprehensive tax reform.  House Ways and Means Committee Chairman Dave Camp (R-MI) is reportedly considering the open-seat Senate race in Michigan. Rep. Camp is also pushing for Congress to pass comprehensive tax reform...

Reid, McConnell Highlight Stark Differences on the Purpose of Tax Reform

As Senator Max Baucus and Representative Dave Camp begin their bipartisan tax reform tour, back in Washington, Senators Harry Reid and Mitch McConnell highlight the stark differences between Democrats and Republicans on the issue.  The parties are largely divided about whether any tax reform will be revenue neutral or will raise revenue.  Sen. Reid praised the bipartisan efforts of...

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