Nov. 5 (Bloomberg) — Both parties in Congress agree the tax code is a mess and needs to be revamped. That doesn't mean it will happen.
The Republican takeover of the Senate in yesterday's election alters the political dynamics in tax policy, with Senator Orrin Hatch of Utah poised to become chairman of the Finance Committee starting in January.
What hasn't changed is the disagreement between Democrats and Republicans on fundamental questions such as whether a new tax code should raise more money for the federal government. The parties also must resolve which tax breaks should survive.
Also read: GOP Senate could propel retirement reform
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.