Finance Panel to Begin Examination of Tax Code in Advance of Reform

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Fundamental tax reform will take center stage this week when the Senate Finance Committee holds a hearing focusing on both the corporate and individual sides of the Internal Revenue Code. According to an announcement, the hearing will be the first in a series and will specifically look at lessons learned from the overhaul that resulted in the Tax Reform Act of 1986. The notice says the hearing will look at “ideas for tax reform that will make the code simpler and fairer, while helping American businesses compete in the global economy.”