Senate Finance Committee leaders announce next steps on tax reform

June 2013

Overview

Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Orrin Hatch (R-UT) today issued a “Dear Colleague” letter to all Senators setting forth next steps as the Finance Committee “moves forward with comprehensive tax reform.”

In the letter, Chairman Baucus and Senator Hatch state that they are starting with a “blank slate,” a tax code without the current business and individual tax expenditures that are listed annually by the Joint Committee on Taxation (JCT) staff.

Senators are asked by July 26, 2013 to submit legislative language or detailed proposals on which tax expenditures should be retained in part or in whole. The letter also invites Senators to consider other provisions that should be “added, repealed, or reformed” as part of tax reform.

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