Legislative update: Recommendations for tax reform

Legislative update: Recommendations for tax reform

The Senate Finance Committee today released reports from five bipartisan working groups, providing recommendations for tax reform. The working groups, assembled in January 2015, were tasked with making tax reform recommendations back to the Senate Finance Committee concerning the following areas:

  • Individual income tax
  • Business income tax
  • Savings and investment
  • International tax
  • Community development and infrastructure

The working groups were given a mandate to offer policy options and recommendations for ‎the Finance Committee to consider as part of a comprehensive tax reform.


Read the five reports by the tax reform working groups, released today by the Finance Committee.


The Senate Finance Committee chairman and ranking member in January 2015 announced the formation of bipartisan tax reform working groups. 

In March, after five tax reform hearings, the Finance Committee announced that it would ask stakeholders and the public to submit ideas to the bipartisan working groups. These submissions were released in April 2015. The reports from the working groups had been expected in May 2015, but were delayed in order to afford the groups additional time to develop specific recommendations. 

© 2023 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organization please visit https://kpmg.com/governance.

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.

Connect with us

Stay up to date with what matters to you

Gain access to personalized content based on your interests by signing up today