Baucus to China Can Only Be Good News

Max Baucus is going to become the Ambassador to China.

This can only be good from a tax reform perspective.  Baucus, as Chairman of the Senate Finance Committee, has been the driving force for tax reform in the Senate.  While I agree with some of the ideas he has proposed, most of the stuff he has proposed is gifts to corporate America.

The interesting question is who will replace him as Chairman.  From Politico:

Baucus’s departure would open up a key spot running the Senate Finance Committee, one of the most powerful positions in Congress given its sweeping authority over tax and health care programs. Sen. Jay Rockefeller, the liberal West Virginia Democrat, is next in line to chair the panel.

Rockefeller, too, is retiring at the end of next year, and Oregon Sen. Ron Wyden is widely expected to take the top Democratic spot in the next Congress.

Asked if he wanted the Finance gavel after the news broke on Baucus’s potential departure, Rockefeller was coy.

“I love Commerce,” said Rockefeller, who chairs the Commerce, Science and Transportation Committee. “We just finished a fantastic hearing. I love Commerce.”

I think it would make more sense to move Wyden up now, myself.  Wyden has made a real name for himself on the government secrecy stuff, obviously.  Maybe he'll bring that same sense to Finance.  After this, it can't get any worse.

Booman has more thoughts on this.