Camp Will Not Push For Tax Reform Link in Debt Limit

House Ways and Means Committee Chairman Rep. Dave Camp (R-MI) commented Friday that he is no longer aiming to fast-tracking tax reform by tying it to the next increase in the nation’s debt ceiling. Bloomberg BNA (subscription required) reported the debt limit was originally estimated to come up in July, but increasing federal revenue has… Read more »

Senator Baucus to Retire in 2014

The powerful Senate Finance Chairman Max Baucus (D-MT) announced yesterday he will retire from the Senate in 2014. While it was well known that Baucus faced a tough re-election in the moderate state of Montana, the announcement came as a surprise to many. According to the New York Times, Baucus has $5 million in his… Read more »

Taxing Charities Gains Political Traction

Indiana University professor Leslie Lenkowsky and visiting fellow Suzanne Garment published a piece in the Chronicle of Philanthropy (subscription required) yesterday about the increasing focus on taxing charities. From state and local governments to Congress, there is movement to broaden the tax base, and often nonprofits are viewed as a source of revenue. The article… Read more »