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Tax News & Views - December 13, 2013

Vol. 14, No. 51


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Tax News & ViewsAuthor
Tax Policy Group, Deloitte Tax LLP

  • House OKs two-year budget plan with new revenue – but no tax increases – The House of Representatives approved 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.
  • Discussion draft on energy tax issues slated for release this year, Baucus says – Senate Finance Committee Chairman Max Baucus, D-Mont., stated in a press interview that he is “hoping to” release a tax reform discussion draft on energy tax issues before the Senate adjourns for the year.
  • Ways & Means tax reform proposal won’t include capital gains tax hike, Camp says – House Ways and Means Committee Chairman Dave Camp, R-Mich., stated that the comprehensive tax reform plan he intends to unveil next year will not include a higher tax rate on income from capital gains.
  • Senate taxwriters clear Koskinen’s nomination to head IRS – The Senate Finance Committee approved the nomination of John Koskinen to serve as the next commissioner of the Internal Revenue Service, clearing the way for a final confirmation vote by the full Senate.

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