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Results leave tax policy outlook uncertain in the short term
The November 4 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 tax-writing 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.