It's not pretty. To offset the cost of tax reform, Congress may have to eliminate trillions of dollars in tax preferences for individuals and businesses. Gleckman walks readers through who's saying what on the topic right now.
President Barack Obama proposed cutting corporate tax rates and using the revenue to generate jobs. Republicans shut it down. Is the tax reform battle stuck at an impasse?
Senate Finance Committee Chairman Sen. Max Baucus (D-Mont.) and House Ways and Means Committee Chairman Rep. Dave Camp (R-Mich.) could not only push forward a more fair, pro-growth tax code but also shrink the government's role in the economy, Marron says.
Senators Max Baucus (D-Mont.) and Orrin hatch (R-Utah) are pushing forward a blank slate rewrite plan, but Gleckman says they are off target. Tax reform will come with a specific set of rates and limited preferences — not a blank slate, Gleckman argues.
The Internal Revenue Service may need to be restructured after the agency was found improperly targeting conservative groups seeking nonprofit status, say Rep. David Camp (R) and Sen. Max Baucus (D), chairmen of congressional tax-writing committees.
The chairmen of congressional tax writing committees say the Internal Revenue Service may need to be restructured after the agency was found improperly targeting conservative groups seeking non-profit status.
If Congress is going to reform the tax code, it will take an enormous amount of hard work and a lot of luck. But right now, tax reform just can't catch a break.