General Hot Topics
Hot Topics :
Tax Reform
Legislative Action
Tax Reform Bills in the 112th Congress
S. 727, Bipartisan Tax Fairness and Simplification Act of 2011
April 5, 2011
Summary of The Bipartisan Tax Fairness and Simplification Act of 2011
Repeals of Tax Credits, Deductions, Exclusions and Other Preferences
Press Release: Wyden, Coats Team Up to Make the Tax Code Work for Businesses and Families (April 4, 2011)
Tax Reform Hearings in the 112th Congress
Joint Hearing on Energy Tax Policy and Tax Reform
Ways and Means Subcommittee on Select Revenue Measures and Subcommittee on Oversight, September 22, 2011
Testimony - J. Russell George, Inspector General, Treasury Inspector General for Tax Administration
Testimony - Donald B. Marron, The Urban Institute
Testimony - Kevin Book, Clearview Energy Partners, LLC
Testimony - Neil Z. Auerbach, Hudson Clean Energy Partners, L.P.
Testimony - Will Coleman, Mohr Davidow Ventures
Testimony - Tim Greeff, Clean Economy Network
Testimony - Andrew J. Littlefair, Clean Energy Fuels
Testimony - Dr. Lawrence B. Lindsey, The Lindsey Group
Testimony - Calvin Dooley, American Chemistry Council
Hearing - Overview: Revenue Options and Reforming the Tax Code
Joint Select Committee on Deficit Reduction (Super Committee), September 22, 2011
Opening Statement - Sen. Patty Murray
Opening Statement - Rep. Jeb Hensarling
Testimony - Mr. Tom Barthold, Chief of Staff, Joint Committee on Taxation
Examining Whether There is a Role for Tax Reform in Comprehensive Deficit Reduction and U.S. Fiscal Policy
Senate Finance Committee
September 13, 2011
Testimony: Dr. Alan C. Greenspan, President, Greenspan Associates LLC, Washington, DC
Dr. Martin S. Feldstein, George F. Baker Professor of Economics, Harvard University, Cambridge, MA
Testimony: The Honorable John M. Engler, President, Business Roundtable, Washington, DC
Testimony: Mr. Edward D. Kleinbard, Professor of Law, USC Gould School of Law, Los Angeles, CA
Tax Reform and the Tax Treatment of Debt and Equity
Joint Hearing between the Senate Committee on Finance
and the House Committee on Ways and Means
July 13, 2011
JCX 40-11: Present Law And Background Relating To Tax Treatment Of Household Debt (July 11, 2011)
JCX 41-11:Present Law And Background Relating To Tax Treatment Of Business Debt (July 11, 2011)
Chairmen Camp and Baucus Announce Joint Hearing on Tax Reform and the Tax Treatment of Debt and Equity (July 7, 2011)
How Business Tax Reform Can Encourage Job Creation
House Ways and Means Committee
June 2, 2011
JCX-34-11: Present Law And Background Relating To Selected Business Income Tax Provisions (June 01, 2011)
Chairman Camp Opening Statement
Testimony of Ashby T. Corum, KPMG LLP
Testimony of Walter J. Galvin, Emerson Electric Co.
Testimony of Judy L. Brown, Perrigo Company
Testimony of James H. Zrust, The Boeing Company
Testimony of James Misplon, Sears Holdings Management Corporation, Hoffman Estates, IL, testifying on behalf of the National Retail Federation
Testimony of Mark Stutman, Grant Thornton
Is the Distribution of Tax Burdens and Tax Benefits Equitable?
Tuesday,
Senate Committee on Finance
May 3, 2011
Scott Hodge, President, Tax Foundation, Washington, DC Testimony
Alan Reynolds, Senior Fellow, Cato Institute, Washington, DC Testimony
Ideas on Reforming the U.S. Internal Revenue Code
Senate Committee on Finance,
Joint Committee on Taxation
April 6, 2011
JCX-28-11: Roundtable Discussion On Ideas For Reforming The U.S. Internal Revenue Code
Chairman Camp Announces First in a Series of Hearings on Fundamental Tax Reform
January 20, 2011
JCX-1-11: Present Law And Historical Overview Of The Federal Tax System
(January 18, 2011)Chairman Camp Opening Statement (January 20, 2011)
Testimony: Nina E. Olson, National Taxpayer Advocate
Testimony: Warren S. Hudak, President, Hudak & Company, LLC
Testimony: Martin A. Sullivan, Ph.D., Contributing Editor, Tax Analysts
Current Proposals
The President's Framework for Business Tax Reform
(February 2012)
Ways and Means Committee Republicans' International Tax Reform Discussion Draft
(October 26, 2011)
Technical Explanation of the Ways and Means Discussion Draft Provisions to Establish a Participation Exemption System for the Taxation of Foreign Income (October 26, 2011)
Press Release: Camp Releases International Tax Reform Discussion Draft (October 26, 2011)
Discussion Draft: One Page Highlights (October 26, 2011)
Discussion Draft: Three Page Summary (October 26, 2011)
Talking Points and Background: Reforming the Tax Code to Get America Working Again (October 26, 2011)
Previous Proposals
Video of U.S. Senate Hearing: Tax Reform: Lessons from the Tax Reform Act of 1986
September 23, 2010
Chairman Sen. Max Baucus (D-MT) Statement
Ranking Member Sen. Chuck Grassley (R-IA) Statement
The Honorable Richard A. Gephardt, President and CEO, Gephardt Group, Washington, DC Testimony
The Honorable John E, Chapoton, Strategic Advisor, Brown Advisory, Washington, DC Testimony
Other Resources
The Challenge of Individual Income Tax Reform: An Economic Analysis of Tax Base Broadening
Congressional Research Service, March 22, 2012
JCT 19-12: Background And Present Law Relating To Cost Recovery And Domestic Production Activities
Joint Committee on Taxation, February 27, 2012
JCT 18-12: Overview of the Federal Tax System as in Effect for 2012
Joint Committee on Taxation, February 24, 2012
2011 Year End Report - Road Map to Renewal
President's Council on Jobs and Competitiveness, January 2012
Joint Committee on Taxation Memo: Estimated Revenue Effects of Corporate Tax Reform Revenue Raising Provisions that Repeal or Modify Tax Expenditures
(October 27, 2011)
Letter to President Obama Calling for Lower U.S. Corporate Tax Rate
RATE (Reducing America's Taxes Equitably) Coalition, September 20, 2011
Budget Effects of the Repeal of the Low Income Housing Tax Credit (LIHTC)
Novogradac & Company LLP, March 25, 2011
A Framework for Defecit Reduction: Principles and Cautions
Center on Budget and Policy Priorities, March 24, 2011
Letter Regarding the Burdens Imposed by the Current Federal Income Tax System and the Need for Reform
LIHTC Working Group, February 2, 2011
Treasury Conference on Business Taxation and Global Competitiveness: Background Paper
July 23, 2007
Concludes that the top corporate tax rate could drop from 35 percent to 27 percent if lawmakers eliminated a number of special preferences in the Internal Revenue Code including the Section 199 manufacturing deduction, the research and development tax credit, Subpart F deferral, and the low-income housing tax credit.
Mixed Reviews for Tax Reform Proposals — LIHTC Could Suffer
By Michael J. Novogradac, CPA, LIHTC Monthly Report, December 2005
Industry Stresses Value of LIHTC, TEB Programs in Testimony to Tax Reform Panel
By Michael J. Novogradac, CPA, LIHTC Monthly Report, July 2005
Tax Reform Panel Considers Proposals that Could
Affect the LIHTC
By Michael J. Novogradac, CPA, LIHTC Monthly Report, April 2005
Tax Reform Casts an Uncertain Shadow
By Michael J. Novogradac, CPA, LIHTC Monthly Report, February 2005