A day after saying he would speak with House leadership about his tax reform bill, House Ways and Means Committee Chairman Dave Camp (R-MI) told reporters that the legislation has no timetable.
Rep. Camp says that the House is firmly behind comprehensive tax reform and the Ways and Means Committee will continue to refine the bill before a formal introduction. However, he couldn't say whether that would be this year or not.
Late Thursday, Bloomberg reported that Sen. Max Baucus (D-MT) will release "tax language" within two weeks. He said it won't actually be legislation but language. Tax lobbyists told Bloomberg they expect the language to "start with tax administration, international tax rules and possibly education-related tax policy."
Credit unions are asked to continue to take part in the Don't Tax My Credit Union program.
On a separate note, but related to tax reform, the Congressional Budget Office (CBO) presented the House-Senate conferees with a list of revenue options. Taxing large credit unions was mentioned as an option. No definition of large credit union was provided and the CBO did state it was not a new option. Conferees were only presented the list as a form of discussion and not being accepted by members of the conference.
The House-Senate conferees are tasked with presenting Congress with a budget plan by mid December.