Budget Conferees Recommend Developing Tax Overhaul Instructions

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Members of the congressional budget conference committee signaled little interest in drastically rewriting tax laws in their opening talks on developing a fiscal blueprint, instead advocating plans to map out an overhaul process and trim certain tax expenditures to garner savings.
A conference compromise on a final fiscal year 2014 budget plan wouldn't require the amount of revenue that a comprehensive change in the tax code could raise. Still, several members of the panel said at the committee's first public meeting Oct. 30 that tax matters should be part of a discussion that includes establishing tax overhaul instructions and eliminating some provisions that constitute spending in the tax code.

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