WASHINGTON — The Obama administration has tapped economic adviser and former Federal Reserve chairman Paul Volcker to lead a task force that will explore how to streamline the tax code, but it’s unclear if the panel’s recommendations will have any impact on the municipal bond market.

The task force, announced by President Obama last week, has been charged with three main responsibilities: simplifying tax laws, closing loopholes and minimizing evasion, and reducing “corporate welfare,” Office of Management and Budget director Peter Orszag told reporters during a conference call.

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