Money

Major Tax Reform Efforts Look Likely to Stall Again

Advocates of comprehensive tax reform in the United States should expect to start over in the next Congress due to the dim prospects that anything major will happen before the current legislative year ends in December, a key U.S. senator said.

A lack of consensus on tax reform issues and relatively little time to advance any legislation — without the long-shot possibility of becoming an amendment to a broad budget bill — leave little hope to make any progress on the short term, said Sen. Benjamin Cardin, D-Md. Whether you agree with Sen. Cardin’s politics or not, he is one of the lawmakers in Congress who has taken a strong interest in tax issues throughout his political career and he has the ear of Senate Finance Committee Chairman, Sen. Ron Wyden, D-Ore.

Any effort to reform the current U.S. tax code is a nearly “impossible task,” Sen. Cardin said.

Read more about Senator Cardin’s thoughts and comments on tax reform at Eagle Daily Investor.

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