US post-election perspective

Results leave tax policy outlook uncertain in the short term

The November 4 US midterm elections have resulted in a shake-up on Capitol Hill that will put Republicans in charge of the legislative agenda — including tax policy — in the House and Senate when the 114th Congress convenes in January. But lawmakers still may face obstacles that can block the passage of major legislation such as tax reform.

Post-election perspective, a new report from Deloitte Tax LLP's Tax Policy Group, looks at how the election results will shape the make-up of Congress and the congressional taxwriting committees in 2015 and considers some of the issues lawmakers will need to resolve before they can make progress on reforming the tax code. It also highlights the tax issues members of the current Congress will need to address when they return to Washington for the upcoming lame duck session.

From an Irish perspective, the strength of the vote would seem to indicate some desire at the national level for politicians to sort out the outstanding issues, such as tax reform, which have been languishing on the sidelines for too long.

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