Joint tax committee drops code summary

On the other side of the Rotunda, the Senate Finance Committee tweeted that the report showed that “momentum continues to build for comprehensive tax reform.”

The summary of current tax law comprised the vast majority of JCT’s report, breaking down the current system into granular detail and largely avoiding recommendations.

JCT’s report takes a look at the tax reform proposal crafted by the Bowles-Simpson commission, the Bipartisan Policy Center and others from think tanks (the American Enterprise Institute and the Center for American Progress).

Plans from lawmakers – including one from Rep. Charles Rangel (D-N.Y.) and another from Sens. Ron Wyden (D-Ore.) and Dan Coats (R-Ind.) – also got a look from the joint committee.

Ways and Means is scheduled to meet this week to discuss both JCT’s findings and the working groups.