Posts Tagged ‘Max Baucus’

Incoming Senate Finance Chair Wyden Outlines His Tax Agenda

Senator Ron Wyden (D-OR), about to become the new chairman of the Senate Finance Committee, said Friday that he aims to eventually rewrite what he described as a “dysfunctional, rotting mess of a carcass that we call the tax code.” But in an acknowledgement of the challenges of tax reform, Wyden said he wants to […]

Finance Chairman In-Waiting Ron Wyden Is A Tax Reformer

Senator Ron Wyden (D-OR), who is poised to become the new chair of the Senate Finance Committee, is the sponsor of a major tax reform plan that would reduce both individual and corporate tax rates without adding to the deficit or changing the current distribution of taxes among income groups very much. The 64-year-old Wyden, […]

TheTaxVox 2013 Lump of Coal Award: Wait ‘Til Next Year Edition

Tax Vox proudly announces its seventh annual Lump of Coal Award for the worst tax and fiscal policies of 2013. The year was a curious mix of really bad ideas and dithering. After all, Congress’s finest moment may have been its December budget mini-deal—a decision that effectively ignored every one of the great fiscal questions facing […]

The Year in Taxes: From the Fiscal Cliff to Tax Reform Talks

The year in taxes started with the nation toppling, briefly, over the fiscal cliff. And it ended with some interesting policy proposals on tax reform though little political progress. Remember the fiscal cliff? While that crisis was resolved on New Year’s Day, it really began in 2001, when President George W. Bush signed the Economic […]

Baucus Proposes International Tax Reform But Future Action Remains Uncertain

In an effort to jumpstart moribund tax reform efforts, Senate Finance Committee Chairman Max Baucus (D-MT) is suggesting major changes in the way U.S.-based multinational corporations are taxed on their overseas income. The plan is quite specific (even including legislative language and a 90-page technical summary) but it is not a formal proposal and leaves many […]

A Summer Update on Tax Reform

Over the past week, Washington has been filled with news about tax reform—some reflecting necessary but painful truths and some just bad. In no particular order, here is where reform stands as Congress leaves town for its extended summer vacation: Big rates cuts are very expensive. The congressional Joint Committee on Taxation estimated that Congress would […]

Obama’s New Corporate Tax Offer is Another Dead End

In a speech today in Chattanooga TN, President Obama made congressional Republicans an offer they could refuse. And they did.  By doing so, Obama may have quashed the last shred of hope that tax reform can happen before the 2014 congressional elections. In what the White House pitched as a new idea, Obama offered to […]

Smart Tax Reform Could Shrink the Government

Max Baucus and Dave Camp, leaders of the Senate and House tax-writing committees, are on the road promoting tax simplification. One goal: cleaning out the mess of deductions, exclusions, credits, and other tax breaks that complicate the code. Done well, such house cleaning could make for a simpler, fairer, more pro-growth tax code. It could […]

The Baucus-Hatch “Blank Slate” Approach to Tax Reform Could Be Revolutionary

No one quite knows what exactly Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Orrin Hatch (R-UT) mean when they say they will rely upon a “blank slate” as the starting point for tax reform discussions. But done carefully and with political artistry, taking advantage of their unique power, Baucus and Hatch could […]

Can The Baucus-Hatch Blank Slate Plan Jump Start Tax Reform?

Senators Max Baucus (D-MT) and Orrin Hatch (R-UT), the chairman and senior Republican on the Senate Finance Committee, tried to jump-start the drive towards tax reform today with what they call a blank slate rewrite plan. Trouble is, it is not exactly a plan. And it isn’t quite a blank slate. Their idea is to get senators […]