The deadline is coming up this week for lawmakers in Congress to submit their preferences for the “must have” tax breaks that need to be kept in the Tax Code under Senate Finance Committee leaders’ “blank slate” approach to tax reform.
In Washington, that also means the deadline is looming for all those lobbyists to submit their list of preferences to lawmakers and defend their favorite tax breaks that have been the source of generous campaign contributions. When Senate Finance Committee chairman Max Baucus, D-Mont., and ranking Republican member Orrin Hatch, R-Utah, first unveiled their tabula rasa approach to tax reform last month in a “Dear Colleague” letter, conventional wisdom had it that the effort would keep the lobbyists busy pressing senators to preserve their cherished tax breaks (see Senate Finance Leaders Offer Blank-Slate Approach to Tax Reform).
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