This morning, the incoming Senate Finance Committee chairman Senator Orrin Hatch (R-UT), released an “in-depth analysis” of “Comprehensive Tax Reform for 2015 and Beyond” covering individual, business, and international tax reform. The report is attached and a press release is below. Tax exempt bonds are mentioned in terms of historical treatment in tax legislation.
In a purely symbolic move, and just hours after the release of the Senate Finance Committee Republican staff tax reform analysis, House Ways and Means Chairman Dave Camp (R-MI) this afternoon released his draft tax reform legislation as HR 1, a bill number that had been reserved for tax reform since the beginning of this congress. With the current congress set to finish its work any day now, the move by Camp was intended to memorialize the work he and his staff have done over the past two years to draft a tax reform proposal. The congressman said today that he has no plans to have the bill added to the House calendar before it adjourns.
The bill contains the same bond restrictions as before, including eliminating private activity (and non profit) bonds.
For reference, the bill is attached along with an introductory statement from Rep. Camp, along with a bill summary. A press release is below.
As you know, tax reform could take more than one congress to achieve, but this is the opening move by congressional Republicans as they prepare to start the debate on tax reform next year.
In a purely symbolic move, and just hours after the release of the Senate Finance Committee Republican staff tax reform analysis, House Ways and Means Chairman Dave Camp (R-MI) this afternoon released his draft tax reform legislation as HR 1, a bill number that had been reserved for tax reform since the beginning of this congress. With the current congress set to finish its work any day now, the move by Camp was intended to memorialize the work he and his staff have done over the past two years to draft a tax reform proposal. The congressman said today that he has no plans to have the bill added to the House calendar before it adjourns.
The bill contains the same bond restrictions as before, including eliminating private activity (and non profit) bonds.
For reference, the bill is attached along with an introductory statement from Rep. Camp, along with a bill summary. A press release is below.
As you know, tax reform could take more than one congress to achieve, but this is the opening move by congressional Republicans as they prepare to start the debate on tax reform next year.
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