Joint Hearing on Tax Reform and the Tax Treatment of Debt and Equity

JOINT HEARING ON TAX REFORM AND THE TAX TREATMENT OF DEBT AND EQUITY

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JOINT HEARING

BEFORE THE

COMMITTEE ON WAYS AND MEANS

U.S. HOUSE OF REPRESENTATIVES

AND THE

COMMITTEE ON FINANCE

U.S. SENATE

ONE HUNDRED TWELFTH CONGRESS

FIRST SESSION

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July 13, 2011

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SERIAL 112-14

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Printed for the use of the Committee on Ways and Means

COMMITTEE ON WAYS AND MEANS DAVE CAMP, Michigan, Chairman
WALLY HERGER, California SAM JOHNSON, Texas KEVIN BRADY, Texas PAUL RYAN, Wisconsin DEVIN NUNES, California PATRICK J. TIBERI, Ohio GEOFF DAVIS, Kentucky DAVID G. REICHERT, Washington CHARLES W. BOUSTANY, JR., Louisiana PETER J. ROSKAM, Illinois JIM GERLACH, Pennsylvania TOM PRICE, Georgia VERN BUCHANAN, Florida ADRIAN SMITH, Nebraska AARON SCHOCK, Illinois LYNN JENKINS, Kansas ERIK PAULSEN, Minnesota KENNY MARCHANT, Texas RICK BERG, North Dakota DIANE BLACK, Tennessee TOM REED, New York	SANDER M. LEVIN, Michigan CHARLES B. RANGEL, New York FORTNEY PETE STARK, California JIM MCDERMOTT, Washington JOHN LEWIS, Georgia RICHARD E. NEAL, Massachusetts XAVIER BECERRA, California LLOYD DOGGETT, Texas MIKE THOMPSON, California JOHN B. LARSON, Connecticut EARL BLUMENAUER, Oregon RON KIND, Wisconsin BILL PASCRELL, JR., New Jersey SHELLEY BERKLEY, Nevada JOSEPH CROWLEY, New York
JON TRAUB, Staff Director JANICE MAYS, Minority Staff Director

COMMITTEE ON FINANCE MAX BAUCUS, Montana, Chairman
JOHN D. ROCKEFELLER IV, West Virginia KENT CONRAD, North Dakota JEFF BINGAMAN, New Mexico JOHN F. KERRY, Massachusetts RON WYDEN, Oregon CHARLES E. SCHUMER, New York DEBBIE STABENOW, Michigan MARIA CANTWELL, Washington BILL NELSON, Florida ROBERT MENENDEZ, New Jersey THOMAS R. CARPER, Delaware BENJAMIN L. CARDIN, Maryland	ORRIN G. HATCH, Utah CHUCK GRASSLEY, Iowa OLYMPIA J. SNOWE, Maine JON KYL, Arizona MIKE CRAPO, Idaho PAT ROBERTS, Kansas MICHAEL B. ENZI, Wyoming JOHN CORNYN, Texas TOM COBURN, Oklahoma JOHN THUNE, South Dakota RICHARD BURR, North Carolina
Russell Sullivan, Staff Director Chris Campbell, Republican Staff Director