Finance Committee tax reform working groups to make presentations

Finance Committee tax reform

The five bipartisan working groups, consisting of subgroups of the Senate Finance Committee members, continue with their project to examine the tax code and to develop ideas to simplify it, and make it fairer and more efficient.

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Beginning this week, the working groups will make presentations to the full Finance Committee members and staff about the progress each working group has made to date. This exercise will provide an opportunity for Finance Committee members to weigh in on the work their colleagues sitting on other working groups.

The five working groups will be making the presentations in non-public meetings on the following dates:

  • Individual income tax - Friday, May 7, 2015
  • Business income tax - Tuesday, May 12, 2015
  • Savings and investment - not scheduled
  • International tax - Tuesday, May 5, 2015
  • Community development and infrastructure - Tuesday, May 5, 2015

Comments received

Since forming in March 2015, the working groups have spent months holding meetings and roundtables with congressional and administration staff, taxpayers, and other stakeholders. In addition, comments from interested parties were solicited, and stakeholders responded by submitting over 1,400 suggestions. Read the stakeholder comments that have been released to the public.

What’s next?

The working groups were charged by Chairman Hatch (R-UT) with producing legislative recommendations within each of the substantive areas within their subject matter jurisdiction by the end of May 2015. At this point, it is unclear what form such recommendations will take, and it is possible that some of the working groups may present more detailed recommendations than others. Chairman Hatch has stated that he has not yet decided whether the products of the working groups will be made available to the public.

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