Tuesday, November 15, 2011

Obama taps insider to head tax policy at US Treasury (Reuters)

WASHINGTON (Reuters) ? President Barack Obama has picked an administration insider as assistant secretary for tax policy at the U.S. Treasury, the White House said on Monday, as lawmakers weigh overhauling the U.S. tax code to help curb the deficit.

Obama named Mark Mazur, currently deputy assistant Treasury secretary for tax analysis, tapping a former Internal Revenue Service director of research who also worked as a White House aide former President Bill Clinton.

The post, which requires Senate confirmation, will be vital as lawmakers review options to rewrite U.S. tax rules to boost revenue as part of a broader effort to lower the long-term deficit, that will also require cuts in government spending.

A congressional "super committee" is racing to deliver a plan by a November 23 deadline to cut the deficit by at least $1.2 trillion over 10 years, which Congress must approve by December 23 or face painful automatic cuts in January 2013.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20111114/pl_nm/us_usa_tax_mazur

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