Tax reform will continue to be a major issue over the next several months. Both Congress and President Trump have expressed a strong interest in reform. A panel at George Washington University titled “A General Perspective on Taming the Tax Code: What Yesterday’s Reformers Can Teach Today’s Reformers” provided great insight into the methods and issues of reform from the perspective of the House Ways and Means Committee. Bill Archer(R-TX) and Charlie Rangel(D-NY) are both former committee chairmen and were members of Ways and Means in 1986 when the tax code was last reformed. Rangel emphasized the importance of the president in getting tax reform, specifically noting that the President’s ability to inspire confidence among the public and the Congress can be decisive in the
Showing posts with the label House Ways and Means Committee
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We expect to testify soon before the Committee on Ways and Means of the US House concerning the NEW MARKETS TAX CREDIT PROGRAM and why "Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entities." According to a report issued by the Government Accountability Office ( GAO ), "From 2005 through 2008, minority-owned CDEs were successful with about 9 percent of the NMTC applications that they submitted to the CDFI Fund and received about $354 million of the $8.7 billion for which they applied, or about 4 percent. By comparison, non-minority CDEs were successful with about 27 percent of their applications and received $13.2 billion of the $89.7 billion for which they applied, or about 15 percent." We expect that the hearing will be held mid-June, and will note the date and location in a blog post.