Two more election cycles, fierce gridlock in Congress in Congress, and a complicated tax code likely means that comprehensive tax reform won’t happen until at least 2017, Mike Nicholas, chief executive officer of Bond Dealers of America, told a group of student loan issuers Thursday.

Speaking on a panel here at the mid-year Education Finance Council membership conference, Nicholas said that despite what tax writing members of Congress say, tax reform is unlikely to happen this year for a number of reasons.

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