CQ TODAY MIDDAY UPDATE
Nov. 30, 2009 – 1:27 p.m.
White House Tax Panel Decides to Gather More Ideas
An Obama administration tax-policy task force is delaying its report until after the holiday season, the White House has announced.
The group, part of the President’s Economic Recovery Advisory Board, had been scheduled to report on ideas for transforming and simplifying the tax code by Dec. 4. But in a Nov. 27 blog posting on the White House’s Web site, the board’s leader — former Federal Reserve Chairman Paul A. Volcker — wrote that the report will not be released as scheduled.
“I want us to review as many suggestions as possible and to have sufficient time to fully consider the hundreds of suggestions that have come in already,” Volcker wrote. “I have asked the Administration to extend our deadline and to reopen the website for submissions so that we can hear the widest possible range of ideas.”
Any ideas from the task force could be folded into tax legislation next year. At the end of 2010, tax cuts enacted earlier in the decade (PL 107-16, PL 108-27) are set to expire, and some policy makers see that as a good opportunity to address other tax issues.




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