Pete Davis also reacts to the Wyden-Gregg bill:
I'd be surprised if Congress got serious about tax reform until at least a year from now. If the Tax Reform Act of 1986 is any example, it will take a strong push from the president to get this going. That effort started with the Bradley-Gephardt proposal of 1978, which I estimated when I was at the Joint Committee on Taxation. It took eight years of debate and political jostling to enact tax reform then. Hopefully, we can proceed more rapidly this time.
If the GOP wins the House or Senate this fall, this seems to me to be a perfect bi-partisan Obama initiative, along with enforcing the conclusions of the debt commission and calling the Republican bluff on cutting spending. Win-win. Or rather: meep-meep.
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