Efforts to advance tax reform legislation move into a critical phase this fall. Meanwhile, President Obama and Congress will be addressing the issue of military action against Syria and confronting fiscal policy deadlines to avoid a partial government shutdown and default on the federal debt.
The House and Senate tax committees in coming months hope to move beyond hearings and discussions of tax reform and initiate formal action on comprehensive tax reform legislation. House Ways and Means Chairman Dave Camp (R-MI) has indicated his committee will begin to act in October on a comprehensive bill. Senate Finance Chairman Max Baucus (D-MT) has said that he hopes the Finance Committee can move on a tax reform bill before Thanksgiving. As part of their ongoing efforts to build support for action, Chairmen Camp and Baucus will appear in Memphis on September 9 for the fourth in a series of tax reform ‘road show’ events.