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Tax News & Views - December 20, 2013

Vol. 14, No. 53


Tax News & ViewsAuthor
Tax Policy Group, Deloitte Tax LLP

  • Baucus’s career change could upend expectations for Finance Committee action on tax reform, extenders – News that Senate Finance Committee Chairman Max Baucus, D-Mont., is likely to leave the Senate before the end of his term to become the next U.S. ambassador to China potentially could further slow momentum for tax reform on the Senate taxwriting panel in 2014 but accelerate efforts to move legislation to extend expiring tax provisions.
  • Budget deal clears Senate, heads to White House – The Senate approved – and the president is expected to sign – a budget agreement that would set discretionary spending levels at just over $1 trillion for each of fiscal years 2014 and 2015, soften the impact of across-the-board sequester spending cuts enacted in 2011, and offset the sequester relief by cutting other spending provisions and increasing certain user fees.
  • Koskinen confirmed as IRS commissioner – The Senate voted to confirm John Koskinen as the next Internal Revenue Service commissioner.
  • A note on our publication schedule – Barring unexpected developments in tax policy before the start of 2014, Tax News & Views will not be published during the congressional holiday recess.

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