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  • Senate Finance

    Constructive Small Business Expensing Bill Introduced

    Representatives Pat Tiberi (R–OH) and Ron Kind (D–WI), both Ways and Means Committee members, have introduced the America’s Small Business Tax Relief Act of 2014 (H.R. 4457). This legislation would make permanent section 179 expensing and allow businesses to deduct up to $500,000 annually in expenses incurred buying machinery, equipment, … More

    Baucus Continues Losing Streak with Energy Tax Reform Draft

    Chairman of the Senate Finance Committee Max Baucus (D–MT) released a draft bill to reform the way the tax code treats energy. This latest draft reform plan misses the mark, just like his earlier efforts on international tax and depreciation did. Baucus claims that his plan would stop the tax … More

    Baucus Heads Wrong Way on Important Part of Tax Reform — Again

    Chairman of the Senate Finance Committee Max Baucus (D–MT) continues to release draft proposals on important parts of tax reform. His latest draft proposal is a deeply troubling plan. Baucus proposes to change the way businesses deduct the cost of their capital expenses—things such as machinery, equipment, structures, property, and … More

    Baucus Joins International Tax Reform Debate, but His Plan Falls Short

    Chairman of the Senate Finance Committee Max Baucus (D–MT) released his draft proposal for reforming the tax treatment of multinational businesses. It is a positive step, if overdue, for tax reform. Increasing discussion about tax reform is a welcome step, because the U.S. badly needs to fix the system it … More

    Gandolfini’s Death and the Need to Repeal the Death Tax

    James Gandolfini died of a heart attack last month while traveling in Rome. The Sopranos star was estimated to be worth nearly $70 million, leaving this money to his two children, wife, and two sisters. If the actor’s sudden and untimely death weren’t enough for his grieving family to deal … More

    Baucus–Hatch “Blank Slate” Tax Reform a Positive Step but Too Narrowly Focused

    Chairman of the Senate Finance Committee Max Baucus (D–MT) and Ranking Member Senator Orrin Hatch (R–UT) recently proposed a “blank-slate” approach to tax reform. This new effort helps strengthen the growing momentum for tax reform, but it is too narrow to result in the fundamental reform to the tax code … More

    Senate Democrats Want Unnecessary $1.5 Trillion Tax Increase

    It has been nearly four years since the last time the Senate passed a budget. In that time, it hasn’t as much as proposed a budget. That at long last changed yesterday when Senate Budget chairwoman Patty Murray (D–WA) released a budget plan for next year. Now that the Democrats … More

    Morning Bell: Government-Run Health Care by Next Thursday?

    The Washington Post front page blares today: “Prospects for Public Option Dim in Senate.” Don’t believe it. Yes, the Senate Finance Committee did vote down two amendments that each would have added a government-run insurance plan to the committee’s health care bill. But two key Democrats who voted against Sen. … More