Daily Tax Update - December 12, 2013: Reid Says IRS Commissioner and Federal Reserve Chairman Will Be Confirmed Before End of Year

REID SAYS IRS COMMISSIONER AND FEDERAL RESERVE CHAIRMAN WILL BE CONFIRMED BEFORE END OF YEAR:  Senate Majority Leader Harry Reid said today that he is determined to confirm John Koskinen as the Commissioner of the Internal Revenue Service and Janet Yellen as the new chairman of the Federal Reserve before the Senate adjourns for the year.

Reid said, “We need a director of the Internal Revenue Service. We need to fill [Federal Reserve] Chairman Bernanke’s spot. I think that would be important for us. We’re going to do that before we leave.”

HOUSE APPROVES RULE TO ADVANCE BUDGET BILL:  Today, the House voted to pass a rule that sets up debate on the two-year budget bill and a final vote later tonight. The bill sets spending levels for 2014 and 2015 and includes no new taxes, and does not make any changes to entitlement programs.  The House is scheduled to adjourn for the year on Friday.

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