Senate holds hearings on Tax Code reforms

09/24/2010 | WebCPA

The Senate Finance Committee is examining a presidential panel's recently published Tax Code report and lessons from the Tax Reform Act of 1986. The Tax Code has about 70,000 pages, and Congress has made thousands of changes since the 1986 tax reform. "In 1986, Congress pruned the Tax Code, pretty severely," said Senate Finance Committee Chairman Max Baucus, D-Mont. "But it's grown back, bigger and stronger. Once again, it needs to be pruned."

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