Feb. 13 (Bloomberg) — Extending U.S. tax credits and deductions is a priority for new Senate Finance Committee Chairman Ron Wyden, even as he indicates there won't be any major tax changes for individuals or businesses this year.
"My hope is that we can get them re-enacted promptly," Wyden said in an interview on Bloomberg Television's "Political Capital with Al Hunt" airing this weekend, his first since becoming chairman. "Then use them as a bridge to more comprehensive reform."
Yet Wyden, an Oregon Democrat, suggested broader tax code changes won't happen soon. Republicans and Democrats are lowering expectations of passing major legislation before the November elections that will determine control of Congress for President Barack Obama's final two years in office.
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