Senate Finance Committee holds hearing on state and local tax and fiscal policy

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The U.S. Senate Committee on Finance held a hearing April 25, 2012 entitled "Tax Reform: What It Means for State and Local Tax and Fiscal Policy." In his opening statement, Finance Committee Chairman Max Baucus (D-MT) expressed a need to ask whether the current system of taxation makes sense and, keeping in mind the proper division of power between the federal and state governments as it relates to the tax code, what Congress can do to efficiently help state and local government maintain sustainable budgets.



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