The Wenatchee World

Weather:

Weather

The latest extended forecast from The Weather Channel

Remove this weather forecast

Overnight

Lo44° Rain

Saturday

Hi60° Chance Rain

Saturday Night

Lo42° Showers

Sunday

Hi56° Partly Sunny

Sunday Night

Lo39° Partly Cloudy

Monday

Hi54° Mostly Sunny

Monday Night

Lo44° Chance Rain

Tuesday

Hi51° Chance Rain

Tuesday Night

Lo44° Slight Chc Showers

Wednesday

Hi56° Partly Sunny

Taming the tax code beast

Send to Kindle
Print This

“Colleagues,” said the June 27 letter to 98 U.S. senators, “now it is your turn.” The letter’s authors are Max Baucus, D-Mont., and Orrin Hatch, R-Utah, the chairman and ranking Republican on the tax-writing Finance Committee, respectively. From their combined 71 years on Capitol Hill they know that their colleagues will tiptoe gingerly, if at all, onto the hazardous terrain of tax reform.

Together with Chairman Dave Camp, R-Mich., of the House Ways and Means Committee, Baucus and Hatch propose a “blank slate” approach, erasing all deductions and credits — currently worth more than $1 trillion a year — and requiring legislators to justify reviving them. Hence the Baucus-Hatch letter, in response to which almost 70 senators sent more than 1,000 pages of suggestions. Although some often were short on specificity, the submissions were given encrypted identification numbers and locked in a safe, as befits dangerous documents.

View my optionsorSign in