Legislative update: Recommendations for tax reform

Legislative update: Recommendations for tax reform

The Senate Finance Committee today released reports from five bipartisan working groups, providing recommendations for tax reform. The working groups, assembled in January 2015, were tasked with making tax reform recommendations back to the Senate Finance Committee concerning the following areas:

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  • Individual income tax
  • Business income tax
  • Savings and investment
  • International tax
  • Community development and infrastructure

The working groups were given a mandate to offer policy options and recommendations for ‎the Finance Committee to consider as part of a comprehensive tax reform.

 

Read the five reports by the tax reform working groups, released today by the Finance Committee.

Background

The Senate Finance Committee chairman and ranking member in January 2015 announced the formation of bipartisan tax reform working groups. 

In March, after five tax reform hearings, the Finance Committee announced that it would ask stakeholders and the public to submit ideas to the bipartisan working groups. These submissions were released in April 2015. The reports from the working groups had been expected in May 2015, but were delayed in order to afford the groups additional time to develop specific recommendations. 

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