Monday, May 20, 2013

Top tax writers renew pledge for tax code revamp

WASHINGTON (Reuters) - The heads of the two tax-writing committees in Congress brushed aside 
skeptics on Monday and pledged in an opinion piece published in the Wall Street Journal to seek a bipartisan tax code overhaul despite fierce political headwinds.
Democrat Max Baucus, the Senate Finance Committee chairman, and Republican Dave Camp, who heads the House of Representatives Ways and Means Committee, renewed their vow to scour the tax code for unfair loopholes and to discuss it all in public.
Any effort to rewrite the tax code faces an uphill fight in Congress, with Democrats and Republicans often miles apart on tax policy. Many lawmakers in both parties advocate tax reform, but offer vastly different visions for change.
Although not stated in the piece, Baucus and Camp have said they want to pass tax reform legislation this year.

To read the full article click here 

Source: Reuters

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