The Future of Tax: What to Watch for In Next Congress

The polls have closed on the midterm elections, but with many races left undecided, it's still unclear which party will lead the next Congress. Though there was no "Red Wave" as some prognosticators predicted, Republicans appear to be closing in on a narrow majority in the House. In the Senate, the balance of power remains up in the air as the Nevada and Arizona races remain uncalled, and the Georgia contest between Democratic incumbent Raphael Warnock and Republican Herschel Walker heads toward a December runoff. On this episode of our weekly podcast, Talking Tax, Bloomberg Tax reporters Chris Cioffi, Naomi Jagoda, and Samantha Handler preview what kind of oversight a House Republican majority may conduct and who's poised to take over for retiring ranking member Kevin Brady (R-Texas). The group also talks about how a potentially GOP-controlled Senate could slow down the process of confirming a new IRS commissioner to replace the outgoing agency head, Charles Rettig. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.