Senate tax reform groups get more time

The Senate Finance Committee's leaders are giving tax reform working groups some more time to formulate their recommendations.

Finance Chairman Orrin HatchOrrin HatchOvernight Finance: US preps cases linking North Korea to Fed heist | GOP chair says Dodd-Frank a 2017 priority | Chamber pushes lawmakers on Trump's trade pick | Labor nominee faces Senate US Chamber urges quick vote on USTR nominee Lighthizer Live coverage: Day three of Supreme Court nominee hearing MORE (R-Utah) and the panel's top Democrat, Sen. Ron WydenRon WydenThe Hill’s Whip List: Where Dems stand on Trump’s Supreme Court nominee Overnight Regulation: Senate moves to strike Obama-era internet privacy rules Overnight Tech: Senate votes to eliminate Obama internet privacy rules | FCC chief wants to stay out of 'political debate' on fake news | Wikileaks reveals new CIA docs MORE (Ore.), had hoped for recommendations by the end of May. 

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But in a statement Thursday, the two senators said that the working groups made it clear that they needed extra time to do the job right. The panel will set a new deadline after lawmakers return from next week's recess.

"It is our hope these bipartisan working groups will use this extended time to finalize their recommendations for tax reform and produce in-depth analyses of options and potential legislative solutions," Wyden and Hatch said in a statement.

The Finance Committee set up five separate working groups in January to deal with the wide range of knotty problems that come with revamping the tax code. The working groups are focusing on individual taxes, business taxes, savings and investment, infrastructure and international issues.

Some of the leaders of those working groups have said they've found a fair amount of common ground, including Sens. Rob PortmanRob PortmanOvernight Finance: Senators spar over Wall Street at SEC pick's hearing | New CBO score for ObamaCare bill | Agency signs off on Trump DC hotel lease GOP senators offer bill to require spending cuts with debt-limit hikes Vulnerable Senate Dem: Border tax concerning for agriculture MORE (R-Ohio) and Charles SchumerCharles SchumerThe Hill’s Whip List: Where Dems stand on Trump’s Supreme Court nominee With no emerging leaders, no clear message, Democrats flounder Gorsuch hearings: A referendum on Originalism and corporate power MORE (D-N.Y.), who were dealing with the international system for businesses.

Even so, senior members of the committee like Sen. John ThuneJohn ThuneSenate GOP hedges on ObamaCare repeal timeline Week ahead: Robocall crackdown tops FCC meeting agenda Here's how Congress can get people to live healthy lifestyles MORE (R-S.D.) have said they remain deeply skeptical that Congress will be able to sign off on a tax reform package this year.