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House Ways & Means Subcmte. Hears Testimony on Expiring Tax Provisions

Washington, DC
Friday, June 8, 2012

The House Ways & Means Subcommittee on Select Revenue Measures convened a hearing on how to evaluate tax provisions set to expire this year, also known as tax extenders. Various experts testified including the Government Accountability Office’s Tax Issues Director, Jim White. He says most expiring provisions are tax expenditures so when lawmakers consider whether or not to extend they must look at the tradeoffs and revenue costs.

Rep. Pat Tiberi is Chairman and Rep. Richard Neal is the Ranking Member of the subcommittee.

Lawmakers from both parties have stated that tax reform is a priority and that simplifying the tax code could stimulate the economy. There are, however, disagreements as to what elements of the tax code should be the priority. House Budget Committee Chairman Paul Ryan (R-WI) released a budget that includes a flattening of the tax code to just a few brackets. The Obama Administration has emphasized eliminating loopholes and tax-breaks for high earners.

Witnesses included Jim White, director of Tax Issues for the Government Accountability Office; Donald B. Marron, director of the Tax Policy Center at The Urban Institute; Alex Brill, a research fellow at the American Enterprise Institute; and Aaron Gornstein, undersecretary at the Department of Housing and Community Development in Massachusetts.

Updated: Friday, June 8, 2012 at 1:21pm (ET)

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