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Marc Gerson Comments on Pending Release of "Blue Book" in Bloomberg Tax

"Tax Panel 'Plugging Away' at 'Blue Book' With Potential Fixes"

Bloomberg Tax

Marc Gerson, former majority tax counsel to the U.S. House of Representatives Committee on Ways and Means, discussed the upcoming release of the Joint Committee on Taxation's (JCT's) blue book. "There's a big emphasis on this blue book because there's a lot of major legislation that was enacted in the last Congress that doesn't have much or any . . . legislative history," said Gerson. "This is an opportunity for some greater explanation." Gerson expects "a more robust blue book than we have in prior years, where there are conference reports and committee reports," adding that preparing such a report "takes time." While the JCT may identify potential technical corrections to last year's legislation, Gerson questioned whether the combination of technical fixes needed to so many bills would drive Congress to move forward.