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The Push for Tax Reform: Will Congress Act in 2013?

A panel discussion on the prospects of tax reform in Congress in 2013, featuring experts from Urban Swirski & Associates, LLC and Marshall & Company. Moderator: Susan Collet, SVP, Government Relations, Bond Dealers of America.

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The Push for Tax Reform: Will Congress Act in 2013?

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  1. The Push for Tax Reform: Will Congress Act in 2013?

  2. Panel • Anne Urban, Urban Swirski & Associates, LLC • Sandra Swirski, Urban Swirski & Associates, LLC • Ellen Marshall, Marshall & Company • Moderator – Susan Collet, SVP, Government Relations, Bond Dealers of America

  3. Principal Tax Reform Proposals

  4. Tax Reform Won’t Be Easy

  5. Spending and Tax Revenue as Share of Economy From 2012: assumed sequester took place and tax rates returned to Clinton-era levels

  6. Primary House Taxwriters W&M Ranking Member Sandy Levin (D-MI) W&M Subcommittee on Select Revenues Ranking Member Richard Neal (D-MA) W&M Subcommittee on Select Revenues Chairman Pat Tiberi (R-OH) W&M Chairman Dave Camp (R-MI)

  7. Bi-partisan Bill? Who is “Gettable”? Rep. Joe Crowley (D-NY) Rep. Ron Kind (D-WI) Rep. Allyson Schwartz (D-PA) Rep. Mike Thompson (D-CA) Rep. John Larson (D-CT)

  8. House Process • Small Working Groups (February – May) • 500+ Page Joint Committee on Taxation Options Report (May 7) • Chairman Camp Wants to Pass a Bill Through His Committee by end of 2013

  9. Primary Senate Taxwriters Finance Committee Chairman Max Baucus (D-MT) Senator Ron Wyden (D-OR) Senator Charles Schumer (D-NY) Finance Committee Ranking Member Orrin Hatch (R-UT)

  10. Senate Process • Big Announcement • Members-only Briefings Started in February and ended June 20th • Comprehensive “Options Papers” Released to Public After Each Briefing • Chairman Baucus Wants a Markup in Late Fall

  11. Joint Efforts • Web Portal for Public Submissions: https://taxreform.gov/ • “Max and Dave” Road Show Beginning in July • Joint Hearings Through Rest of 2013 • Coordinated “Pre-Conference” Approach

  12. Debt Ceiling To Hit Later Than Expected The top blue line reflects the path of national debt excluding any payments from Fannie Mae and Freddie Mac. Those agencies are required to pay a portion of the profits they’ve earned on assets since the financial crisis to the Treasury, and those payments are expected to be made before the end of the year.

  13. X-Factors • Retirements and Term Limits • Scandals and Distractions • Campaign Season: Mid-Term Elections November 2014

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