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With President Obama expected to nominate Sen. Max Baucus (D-Mont.) as the next U.S. Ambassador to China, tax reform and the proposal to limit the ad-tax deduction may have been dealt a setback.
Politico first reported Baucus’ impending nomination.
The driving force in the Senate behind tax reform, Baucus, chairman of the Finance Committee, leaves no champion to take his place. It will be up to the next chairman—odds favor Sen. Ron Wyden (D-Ore.)—to determine how to proceed.
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