Sen. Ron Wyden (D-Ore.) has formally taken over the chairmanship of the Senate Finance Committee. This is one of the most powerful leadership posts in Congress, with far-reaching jurisdiction over tax, trade and health care issues affecting every American. He replaces Sen. Max Baucus (D-Mont.), who will serve as the next U.S. ambassador to China.
For the past decade, Wyden has worked on bipartisan efforts to reform the tax code, to small avail. Now, however, he is in position to exert substantial influence, according to a report published recently on The Daily Beast website.
It has been 30 years since there was a major overhaul of the tax code. President Obama has not signaled he wants to make tax reform a priority, and it won't happen without his support. But Wyden says, "I want to advance tax policy that gives everybody a chance to get ahead and helps the middle class."
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