Baucus: Tax reform bill 'hopefully' in 2012

In a short interview after the president’s speech, the Montana Democrat declared the president’s support for tax reform “needed,” but also said that he didn’t expect a reform measure this year.

And as for next year? “Hopefully,” Baucus said. Over on the House side, Rep. Dave Camp (R-Mich.), the chairman of the Ways and Means Committee, has also said not to necessarily expect tax reform legislation this year

In a statement about the State of the Union, the Montana Democrat noted that his panel has already started hearings on the issue and said the committee would work with lawmakers and the administration on finding a path forward.

“Tax reform is about more than just the tax code – it’s about one of the most direct relationships Americans have with their government,” Baucus said. “We need to work together to reform and simplify our tax system in a way that creates more American jobs, makes our country more competitive and bolsters our economy in a fair way.”