Senate Finance Committee Seeks Input on Tax ReformMarch 18, 2015
Senate Finance Committee Chairman Orrin Hatch (R-Utah) and ranking member Ron Wyden (D-Ore.) have formed five bipartisan working groups to examine specific issues in tax reform as part of the process for developing a legislative proposal for a tax code overhaul. According to Hatch and Wyden each group will be led by a bipartisan team of co-chairs.
Group topics and co-chairs include:
1. Individual income tax – Sens. Charles Grassley (R-Iowa) and Mike Enzi (R-Wyo.); Sen. Debbie Stabenow(D-Mich.);
2. Business Income Tax – Sen. John Thune (R-S.D.); Sen. Ben Cardin (D-Md.);
3. Savings and Investment – Sen. Mike Crapo (R-Idaho); Sen. Sherrod Brown (D-Ohio);
4. International Tax – Sen. Rob Portman (R-Ohio); Sen. Charles Schumer (D-N.Y.); and
5. Community Development and Infrastructure – Sen. Dean Heller (R-Nev.); Sen. Michael Bennet (D-Colo.).
Each group will analyze current law and examine policy trade-offs and available reform options within its designated topic area and will work directly with the nonpartisan Joint Committee on Taxation (JCT) to produce an in-depth analysis of potential legislative solutions.
While these groups continue to work, Hatch and Wyden are soliciting ideas from interested members of the public and stakeholders on the committee’s ongoing tax reform efforts. The goal of this effort is for outside parties to provide additional input, data and information to the bipartisan working groups. Individuals, businesses, organizations, and advocacy groups interested in submitting comments should send an email to the below bipartisan group or groups that relates to their area of interest. Please send submissions to each group of jurisdiction if an interest area covers more than one group.
Individual Income Tax – Individual@finance.senate.gov
Business Income Tax – Business@finance.senate.gov
Savings & Investment – Savings@finance.senate.gov
International Tax – International@finance.senate.gov
Community Development & Infrastructure – CommunityDevelopment@finance.senate.gov
The findings and recommendations of each group will be compiled into a comprehensive report that is expected to be completed by the end of May. Submissions from stakeholders will be reviewed by the working groups and ideas can be incorporated into the each working group’s final recommendations. The five working group recommendations will be delivered to Chairman Hatch and Ranking Member Wyden and will serve as a foundation for the development of bipartisan tax reform legislation.
More information and additional submission requirements can be found here.
NSBA will be submitting comments on behalf of our 65,000 members, and encourage members to submit your own individual comments to the appropriate working group on behalf of yourself, your company, and your employees. Please click here and share your submitted comments with NSBA staff.