Move to Wyden as Finance Chairman Expected in Coming Days

For over 50 years, Bloomberg BNA’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...

Sen. Ron Wyden (D-Ore.) has moved one step closer to taking the top spot on the Senate Finance Committee.
Senate Majority Leader Harry Reid (D-Nev.) will simply name Wyden as the panel's next chairman, a leadership aide said Feb. 4, after the committee's current chairman, Sen. Max Baucus (D-Mont.), steps down. And that could happen soon, as Baucus's nomination to serve as the next U.S. ambassador to China is set to get a Senate floor vote Feb. 6.
The pending change is expected to complicate efforts for sweeping changes in U.S. tax laws, given the uncertainty around what Wyden will keep of Baucus's prior work on redrawing the tax code and what he will reshape.

For full access to this article, please register for a free trial to Daily Tax Report® .