Senate Finance Committee chairman Max Baucus, D-Mont., unveiled a series of proposals Wednesday to combat tax fraud and make the tax-filing process simpler and more efficient.
The proposals come a day after Baucus released a series of proposals in a discussion draft focused on international tax reform (see Senator Unveils Proposals for International Tax Reform). Baucus has been working on putting together a comprehensive tax reform bill with his counterpart in the House, Ways and Means Committee chairman Dave Camp, R-Mich., and the discussion drafts represent a last-ditch effort to get such legislation at least introduced in Congress before the end of the year. However, with the number of days in the legislative calendar rapidly dwindling and partisan gridlock still holding up an agreement on next year’s budget, the prospects for passage of a comprehensive tax reform package appear to be remote, especially with the 2014 midterm elections less than a year away.
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