Ready for Action

There is some movement in Washington toward reforming the tax code which may sound like mere legislation but, as Nancy Cook of the National Journal writes, is being treated more like combat by some interested parties.

Since the beginning of 2013, companies, trade associations, and advocacy groups have hired new representation, ramped up lobbying efforts, and formed new coalitions with such vague-sounding appellations as BUILD or ACT, all in the name of preserving the status quo—or at least, groups’ individual tax breaks or provisions.

All this is in response to retiring Senator Max Baucus’s plan to rebuild the tax structure starting from the ground up. That is … by carefully scrutinizing the special interest exemptions, deductions, etc. that we have all grown wearily accustomed to and that are the means by which tax lawyers and K Street lobbyists earn their daily bread.