Enzi to co-chair tax reform working group on individual income tax | TSLN.com

Enzi to co-chair tax reform working group on individual income tax

First Last
for Tri-State Livestock News

The Senate Finance Committee announced the launch of five separate bipartisan Tax Working Groups to spur congressional comprehensive tax reform efforts in the 114th Congress. U.S. Senator Mike Enzi, R-Wyo., will co-chair the working group focusing on reforms to individual income taxes.

According to Finance Committee Chairman Orrin Hatch, R-Utah, and Ranking Member Ron Wyden, D-Ore., the groups will analyze current tax law and examine policy trade-offs and available reform options within the group’s designated topic areas.

Policy focus areas for the working groups include: 1) Individual Income Tax; 2) Business Income Tax; 3) Savings & Investment; 4) International Tax; and 5) Community Development & Infrastructure.

Each of the bipartisan groups will work directly with the nonpartisan Joint Committee on Taxation (JCT) to produce an in-depth analysis of options and potential legislative solutions within its assigned area, with the goal of having one final comprehensive report featuring recommendations from each of the five categories completed by the end of May. The report recommendations, which will be delivered to Chairman Hatch and Ranking Member Wyden, will serve as a foundation for the development of bipartisan tax reform legislation.

“There is a wide agreement from Republicans and Democrats, conservatives and liberals, that our tax code is broken and in need of a major overhaul,” said Enzi. “Tax reform is one of the best tasks that Congress can undertake that will help make America more competitive in the global economy, create jobs, and spur innovation and entrepreneurship. I’m proud to take part in developing solutions for reforming individual income taxes. Let’s simplify our tax system, lower the rates, and make sure that families across America don’t have to have a degree in accounting just to file their taxes.”

–Senator Enzi

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