Tax reform 2014, Senate version

December 12, 2014

The tax reform 2014 train has another passenger, this one boarding at the U.S. Senate's tax-writing station.

Senate Finance Committee analysis of tax reform December 2014 HatchSen. Orrin Hatch (R-Utah) has released an in-depth analysis by the Senate Finance Committee Republican staff entitled "Comprehensive Tax Reform for 2015 and Beyond."

Also this week, outgoing Ways and Means Chairman Dave Camp (R-Mich.) introduced H.R. 1, the Tax Reform Act of 2014, in the House.

The Senate report outlines the issues policymakers must consider in any effort to reform the tax code, according to Hatch. The document also aims to "further educate and inform" the upcoming debate.

There's a good chance the 340-page analysis will get closer examination in the 114th Congress. While Hatch is, for a few more weeks, the Senate tax-writing panel's ranking minority member, he will take over as the Finance committee's chairman in 2015.

"If we are ever going to make tax reform a reality, both parties will have to come together to get it done," said Hatch in releasing the report. "That will mean Republicans and Democrats in both the Congress and the White House working together toward a common goal that will benefit the American people and help get our economy moving on a better course."

Hatch said the report is intended to provide background on "where we are and where we have been with regard to our tax system as well as some possible direction on where our reform efforts should go in the near future."

Stressing the need for bipartisanship in overhauling the Internal Revenue Code, Hatch said he's "willing to work with anyone, Republican or Democrat, to fix our country's tax code and I hope this report will be viewed as an invitation to work together on these critical issues."

Check out the report and then send your participation R.S.V.P. to Hatch, as well as to your Senators and Representative.

You also might find these items of interest:

Share:

The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

Latest Posts
The latest Dirty Dozen tax scam list is familiar because too many are still falling for the schemes

March 5, 2026

Tax filing season is also peak time for tax scams. Be on the lookout for…

Read More
Hello Tax Season 2026

Happy New Tax Year! Are you ready to file your 2025 tax return? I know, too early to ask. But Tax Day 2026 will be here before we realize it. The Internal Revenue Service deadline to file and pay any tax we owe is the regular April 15 date this year. It’s also Tax Day for most of the states that collect income taxes from their residents, which is most of the states! If that seems too far away right now, don’t worry. As is the case every tax season, the ol’ blog’s tips and other tax reminders should help all of us meet our state and federal responsibilities. Procrastinators also will want to keep an eye on the countdown clock just below. It tracks how much time we have until April’s Tax Day, just in case we put off our annual tax task until the absolutely final hours and decide we need to instead get an extension request into the IRS by that date. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
Leave the first comment