Lew Praises Forthcoming Baucus Tax Plan as Constructive
By Richard Rubin and Ian Katz - Nov 19, 2013
U.S. Treasury Secretary Jacob J. Lew praised a forthcoming congressional proposal to revamp the tax plan as a “constructive step” forward.
Senate Finance Chairman Max Baucus said he will soon release discussion drafts on several portions of the tax code and he is meeting with committee members today. Finance panel member Rob Portman, an Ohio Republican, said last week that those drafts will include international taxation, tax administration and capital cost recovery, all issues with significant implications for businesses.
“I talked with Senator Baucus yesterday and I think it’s a very constructive step that he’s putting forward, a draft,” Lew said at the Wall Street Journal’s CEO Council conference in Washington today. “I look forward to studying the details.”
He continued, “From what I understand, it shares some significant characteristics with the president’s framework, which I actually think has a certain amount of convergence between Democrats and Republicans.”
Baucus, a Montana Democrat, has said he wants to make the biggest tax code changes since 1986 and reduce individual and corporate tax rates. He has released few details of how he would do that, with a little more than a year remaining before he retires.
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http://www.bloomberg.com/news/2013-11-19/lew-praises-forthcoming-baucus-tax-plan-as-constructive.html
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