Corporate tax reform is coming, lawmakers say

Baucus, Camp (Justin Sullivan/Getty Images)

Consensus is building on Capitol Hill about the need for sweeping reform of the corporate tax code, say Sen. Max Baucus, D-Mont., and Rep. Dave Camp, R-Mich, the chairmen of the Senate and House tax-writing committees. Still, both said they would not press ahead with corporate tax reform unless they could also win support for an overhaul of individual taxes, which account for about half of all taxation levied on business activities. "There is more agreement on the corporate side," said Baucus. "But I think we should use that as an engine for comprehensive reform, not just do corporate and stop."

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