Grassley Takes Seat on Joint Tax Committee
The role of the Joint Committee has expanded as the complexity of the federal tax system has increased. Created in 1926, the committee continues to provide nonpartisan, technical expertise to members of Congress to help them make informed decisions regarding proposed revenue legislation.
"I look forward to an opportunity to work with Chairman Roth from the perspective of the Joint Tax Committee. The panel plays a crucial role as it provides expertise to the Finance Committee on all aspects of the tax code," Grassley said.
By statute, the duties of the Joint Committee are to:
- investigate the operation and effects of internal revenue taxes and the administration of such taxes;
- investigate measures and methods for the simplification of such taxes;
- make reports to the House Committee on Ways and Means and the Senate Committee on Finance on the results of such investigations and studies and to make recommendations; and,
- review any proposed refund or credit of income or estate and gift taxes or certain other taxes set forth in Code section 6405 in excess of $1,000,000.
The Joint Committee also provides revenue estimates for all tax legislation considered by either the House of Representatives or the Senate.
Ten members compose the Joint Committee on Taxation. Five are from the Senate Finance Committee, and five serve on the Ways and Means Committee of the House of Representatives. Designated members of the Joint Committee are selected by the chairman of these two committees. Along with Grassley, other senators serving on the Joint Committee are William Roth of Delaware, John Chafee of Rhode Island, Patrick Moynihan of New York and Max Baucus of Montana. House members of the Joint Committee are Bill Archer of Texas, Philip Crane of Illinois, William Thomas of California, Charles Rangel of New York, and Pete Stark of California.
Grassley today also was designated by the Finance Committee to be a congressional adviser on trade policy and negotiations. He serves as Chairman of the Subcommittee on International Trade.