The Senate Finance Committee is holding a hearing today on Our Business Tax System: Objectives, Deficiencies, and Options for Reform. The hearing takes place at 10:00 a.m. in 215 Dirksen Senate Office Building. The witnesses scheduled to testify are:

• David Walker (Comptroller General, U.S. Government Accountability Office)
• Robert Carroll (Deputy Assistant Secretary for Tax Analysis, U.S. Treasury Department)
• Charles Rossotti (Senior Advisor, The Carlyle Group)
• Thomas Neubig (National Director, Quantitative Economics & Statistics, Ernst & Young)
• David Bernard (International President, Tax Executives Institute; Vice-President, Kimberly-Clark)
• Jeff Johannesen (Managing Director, RSM McGladrey)

In connection with the hearing, the Joint Committee on Taxation has released Present Law and Background Relating to Selected Business Tax Issues (JCX-41-06):

This document … provides an overview of present law related to a variety of hearing topics, including choice of business entity, corporate integration, mergers and reorganizations, cost recovery, and international tax systems.