Tuesday, May 7, 2013
Joint Committee on Taxation, Report to the House Committee on Ways and Means on Present Law and Suggestions for Reform Submitted to the Tax Working Groups (JCX-3-13) (568 pages):
On February 13, 2013, Ways and Means Committee Chairman Dave Camp and Ranking Member Sander Levin announced the formation of 11 Ways and Means Committee Tax Reform Working Groups. The mission of each working group was to review current law in its designated area, research relevant issues, and compile related feedback from stakeholders, academics and think tanks, practitioners, the general public, and colleagues in the House of Representatives.
This document ... provides an overview of the Internal Revenue Code as in effect for 2013 and provides a more detailed description of the Code provisions relevant to the topic area of each working group. The document also summarizes the suggestions for reform and other commentary submitted by the public to the various working groups ... In addition, at the request of Chairman Camp and Ranking Member Levin, the document briefly summarizes a selection of proposals to reform the Federal tax system that members of Congress, commissions, and others have presented to policy makers over the past several years.
Parts One and Two of this document provide a description of present law. Part Three summarizes selected tax reform proposals. Part Four summarizes the feedback received by the various working groups.