Back to tax reform
June 10, 2013
Peter Schroeder and Vicki Needham
Tax writers in the House will turn their attention back to reforming the code this week as they await information about the IRS’s targeting of conservative groups.
The House Ways and Means Committee on Thursday will hold a hearing on how tax havens have eroded the U.S. tax base. It will be the panel’s first hearing on tax reform since the IRS scandal broke last month.
Although no public events are scheduled on the IRS targeting this week, staffers for Ways and Means and other congressional panels are interviewing IRS officials behind the scenes to lay the groundwork for more hearings.
The tax reform discussion will continue on Friday morning when the primary congressional advocates of tax reform — Ways and Means Chairman Dave Camp (R-Mich.) and Senate Finance Committee Chairman Max Baucus (D-Mont.) — speak about their plans at a public breakfast hosted by The Christian Science Monitor.
On the Senate side of the Capitol, lawmakers will be looking to move forward on major pieces of legislation.
Senate Majority Leader Harry Reid (D-Nev.) has vowed to complete work on comprehensive immigration reform before July 4 and plans to bring the bill to the floor this week.
And following a strong cloture vote Thursday, the Senate is poised to easily approve a five-year farm bill.
Back in the House, Ways and Means Trade subcommittee Chairman Devin Nunes (R-Calif.) on Wednesday will talk with experts about the growing U.S.-Brazil trade and investment relationship.
That same day, the House Financial Services Committee will continue searching for a path forward on remaking the housing market. They will discuss housing finance reform and what to do about the mortgage giants Fannie Mae and Freddie Mac with a host of experts.
Off Capitol Hill, the Business Roundtable on Wednesday will announce the results of its second quarter CEO economic survey, which will provide a glimpse into what the nation's top executives expect over the next six months.
Obama administration officials on Monday will appear at the Capital Access Innovation Summit, an event focused on strengthening capital formation for startups and small businesses. Treasury Secretary Jack Lew, Small Business Administration chief Karen Mills and National Economic Council Director Gene Sperling will be among the officials on hand.
The Senate and House Budget committees on Wednesday will examine the budget request from the Department of Defense. Defense Secretary Chuck Hagel and Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff, will testify before both panels.
Senate appropriators will also hear from Hagel and Dempsey on Tuesday as they also explore the military’s funding request. That full committee will then spend Wednesday discussing the government’s needs when it comes to cybersecurity.
On Wednesday, the House Appropriations Committee is set to mark up its Defense appropriations bill for fiscal 2014.
The Senate Banking Committee plans to talk to top regulators on Thursday about the lessons learned about community banks during the financial crisis. Witnesses will include representatives from the Federal Deposit Insurance Corporation and the Government Accountability Office.