The Senate Finance Committee launched five separate bipartisan Tax Working Groups to move forward on comprehensive tax reform efforts in the 114th Congress. The working groups will analyze current tax laws and examine policy trade-offs and available reform options. The policy focus areas for the working groups are: Individual Income Tax; Business Income Tax; Savings & Investment; International Tax; and Community Development & Infrastructure.
Sen. Orin Hatch (R-UT), committee chairman, said, “Republicans and Democrats agree the American tax system is too complicated, unfair, and is hurting economic growth. With the launch of these working groups, members will have an opportunity to thoroughly examine the code and put forward smart ideas that will help lay the groundwork for a bipartisan tax overhaul that will provide bigger paychecks, better jobs, and more opportunity for all Americans.”