Fiscal Commission: Tax Working Group
TAX WORKING GROUP
National Commission on Fiscal Responsibility & Reform
The past two weeks we discussed two of the “Fiscal Commission’s” three working groups: the Discretionary Working Group and the Mandatory Working Group. This week we take a look at the Tax Reform Working Group. Unlike meetings of the full Commission, working group meetings are not held publicly.
Rep. Dave Camp (R-MI) and Sen. Kent Conrad (D-ND) lead the group, which is tasked with discussing and proposing ideas for reforming the tax system. Sen. Max Baucus (D-MT), Sen. Judd Gregg (R-NH), Rep. Xavier Becerra (D-CA), David Cote, Sen. Mike Crapo (R-ID), Sen. Dick Durbin (D-IL), Ann Fudge, and Andy Stern fill out the group.
The Wall Street Journal speculated this week that the working group is still considering repealing “sacrosanct” tax credits such at the mortgage deduction. The group is also rumored to be considering a reduction in the child tax credit.
Alice Rivlin, a member of the panel, said “There’s a lot of potential for agreement on the committee” when it comes to ending tax credits.
The “Fiscal Commission” is to issue its report by Dec. 1.