The Senate Finance Committee has planned a series of hearings to look at broad tax reform. This is a great turn of events. There are some negative details though:
Overhaul of the tax code got off to a strong start in the Senate Finance Committee, with the announcement late Tuesday of a lengthy series of hearings.
Still, it remains unclear whether any serious tax changes will get through before the 2012 political silly season begins. And the timetable laid out on Tuesday suggests that lawmakers are in no particular rush.
Finance Chairman Max Baucus (D., Mont.) and the committee’s top Republican, Orrin Hatch of Utah, said the first hearing, entitled “How Did We Get Here?” will look at the economic and policy changes that have occurred since the last big reform in 1986, and how U.S. tax rules have and have not kept up.
Witnesses will include a number of former top Treasury tax officials.
I have doubts about this getting done- but this is what we're supposed to see happen. Contrast this with the House, where nothing but abortion bills seem to reach the floor. I never thought I'd be talking about the Senate Finance Committee as a beacon of legislative hope, but it sure is.
The Senate Finance Committee has planned a series of hearings to look at broad tax reform. This is a great turn of events. There are some negative details though:
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