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 Grant HatchRead Senate GOP's tax bill Senate panel to start tax bill markup on Monday Senate set for clash with House on tax bill MORE (R-Utah) and the panel's top Democrat, Sen. Ron WydenRonald (Ron) Lee WydenLobbying World Overnight Regulation: House to vote on repealing joint-employer rule | EPA won't say which areas don't meet Obama smog rule | Lawmakers urge regulators to reject Perry plan New tax plan will hinder care for older Americans MORE (Ore.), had hoped for recommendations by the end of May. 

ADVERTISEMENT
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 PortmanRobert (Rob) Jones PortmanSenate GOP reveals different approach on tax reform GOP senators: Moore should step aside if allegations true Senate set for clash with House on tax bill MORE (R-Ohio) and Charles SchumerCharles (Chuck) Ellis SchumerTrump is right: The visa lotto has got to go Schumer predicts bipartisan support for passing DACA fix this year No room for amnesty in our government spending bill MORE (D-N.Y.), who were dealing with the international system for businesses.

Even so, senior members of the committee like Sen. John ThuneJohn Randolph ThuneOvernight Tech: Senate panel subpoenaed ex-Yahoo chief | Twitter gives all users 280 characters | FBI can't access Texas shooter's phone | EU wants tax answers from Apple Overnight Cybersecurity: What we learned from Carter Page's House Intel testimony | House to mark up foreign intel reform law | FBI can't access Texas shooter's phone | Sessions to testify at hearing amid Russia scrutiny Former Yahoo CEO subpoenaed to appear before Congress 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.