… at the earliest due to the House rules limiting chairmanship of committees to three terms and impending retirement of Sen. Carl Levin.
This means the current chairman of the powerful Ways and Means committee, Dave Camp (Mich-R) is on his way out because he will soon hit the term limit although the battle for that quite coveted appointment has already begun, and because Camp is rumored to be making a run for Levin’s soon to be vacated Senate seat, he likely won’t be focusing on reforming much of anything anyway.
There is a whole lot of politics in play according to this article in The Fiscal Times, but the bottom line is that if American citizens abroad are hoping for an overhaul of the convoluted US tax code, and possibly relief from the tax on earned income worldwide in the form of a residence based tax, they shouldn’t look for that any time in the near future.
Congress hasn’t bothered with a comprehension refit of the US tax code since 1986, and there are more than a few issues that need attending to, but for the time being, they appear to have lost momentum and are allowing themselves to be more concerned with the titles and positions coming up for grabs than they are with Americans in or out of homeland.
