In 2010, when former Senate Finance Committee Chair Max Baucus was beginning his push toward tax reform, he held a hearing featuring veterans of the great tax reform of 1986. The main conclusion from this hearing was that Congress has changed too much since then to make a repeat of 1986 likely. We are now five years later, Baucus is the U.S.ambassador to China, and no tax reform has happened yet, thus confirming what the veterans told the chair in 2010.
Avi-Yonah, Reuven. "Reinventing the Wheel: What We Can Learn from the Tax Reform Act of 1986." Tax Notes 146 (2015): 1499. (Also in David Gliksberg (ed.), Essays in Tax Law in Honor of Arie Lapidoth, 347 (2015).)
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