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Marc Gerson Quoted Regarding Ways and Means Tax Hearings in Bloomberg Tax

Subtitle
"The Balancing Act of Tax Hearings"

Bloomberg Tax

Marc Gerson, former Majority Tax Counsel for the House Committee on Ways and Means, was quoted regarding that committee's May 23, 2017 hearing, which saw several company chief executives testifying on international tax reform proposals, including the proposed border adjustment tax. Finding witnesses from the business world for a tax hearing is not easy, Gerson said. "When it comes to corporate America, there is some trepidation about testifying because there is so much scrutiny, and you are under a microscope." Because the Trump administration is still working out the details of a tax bill, Gerson said, the recent hearings could serve another purpose by influencing committee members on suggested improvements to the bill. "What impact do these hearings have on where the administration is on tax reform? These hearings are an opportunity to influence how the administration … comes out," he said, adding that since there is no legislative language, members could be influenced by what they hear from witnesses and suggest improvements to the bill.