WASHINGTON — The Senate Finance Committee's tax reform working groups won't be submitting reports to the committee's leaders by the end of the month, as had been expected.
The groups are working through this week's congressional recess to finish the reports, a committee spokeswoman said. The Senate is scheduled to meet next on July 7.
The five working groups were created in January and are analyzing current tax law and examining policy trade-offs and reform options within their topic areas. Their efforts are intended to aid in the development of tax-reform legislation. The groups are supposed to deliver reports with recommendations to finance committee chairman Orrin Hatch, R-Utah, and ranking minority member Ron Wyden, D-Ore.
One of the groups, on community development and infrastructure, has bonds under its jurisdiction. Dozens of groups from across the municipal bond market have submitted comments to the working groups in support of the muni tax exemption and/or easing bond restrictions.
This is the second time the working groups have been given an extension on their reports. The groups were originally tasked with submitting their recommendations by the end of May, and then were slated to finish their reports by the end of this month.
