The threat by Sen. Max Baucus, D-Mont., to hold back the appointment of Eric Solomon as assistant secretary for tax policy at the Department of the Treasury is misplaced, according to observers.Baucus, the ranking member of the Senate Finance Committee, said that he would place a hold on President George W. Bush's nominee for the Treasury's top tax position unless the department details how it will close the tax gap.
"I have told Treasury Secretary [Henry] Paulson that I want the administration, the Internal Revenue Service and the Treasury to give Congress a plan by the end of September of how we are going to solve the tax gap. I want a business plan with timelines, with benchmarks, with dates, revenues that will be collected and certain specific actions that the IRS and Treasury would have to take," Baucus said.
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