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Now it’s a Trend: Another Tax-Writer Stepping Down, as Camp set to Retire

House Ways & Means Chairman Dave Camp (R-Mich.) formally announced that he would retire at the end of the current Congress.   Many saw this decision coming, as House Republican conference rules will require Rep. Camp to relinquish his chairmanship of the powerful Ways & Means Committee after this Congress.  As Chairman, Rep. Camp has pushed hard for comprehensive tax reform,...

Moving On Up to the Means Side? Ryan Seeks Ways and Means Chairmanship

In the wake of brokering a bipartisan budget deal with Senator Patty Murry (D-Wash.), Representative Paul Ryan (R-Wis.), current chair of the Budget Committee, already has set his sights on a new position:  Chairman of Ways and Means.  Representative Dave Camp’s (R-Mich.) term as Chairman will expire after 2014 because of House Republicans’ caucus chairman term limits.  When Rep....

Does the Absence of Tax Provisions in Budget Deal Signal End to Tax Revenue Raisers in Budget Negotiations? Republicans Want to Think So…

Congressional Republicans claimed victory over the absence of tax revenue in the negotiated budget deal brokered by Representative Paul Ryan (R-Wisc.) and Senator Patty Murray (D-Wash.).  Republicans view the budget deal as setting a precedent that any future deficit reduction should not include increased tax revenues.  Rep. Ryan claimed “[t]axes are part of tax reform, and...

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...

Democratic Budget Negotiators Target “Tax Loopholes”

Democrats in the House-Senate budget conference committee are pushing for the elimination of “tax loopholes” to offset the cost of replacing automatic spending cuts from sequestration.  Chairwoman of the Senate Budget Committee, Patty Murray (D-Wash.) has recently signaled the desire to cut what she describes as “tax breaks”, writing in an op-ed that “Republicans have to work...

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...

Party Leaders: No “Grand Bargain” on Budget

House Budget Committee Chairman Paul Ryan (R-Wis.) and Senator Majority Leader Harry Reid (D-Nev.) can agree on one thing:  a “grand bargain” involving tax increases and changes to entitlement programs such as Medicare and Social Security will not be part of any upcoming budget deal.  Instead, party leaders are focusing their attention on a smaller-scale agreement, as the parties...

New Fiscal Deal May Affect Tax Reform

While tax reform instructions were not included in yesterday’s deal to end the government shutdown and raise the debt limit, the legislation does create a House-Senate budget conference committee which could potentially address tax reform.  Tax reform instructions had been floated earlier in negotiations as potentially part of a fiscal deal (see prior post). However, addressing tax...

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