Committee on Taxation (COT).

Committee on Taxation (COT) Staff Liaison: Matt Miller [e-mail]

COT met June 18-19 in Washington, D.C., at which The Honorable Eric Solomon, assistant secretary of Tax Policy, U.S. Department of Treasury, provided an update on Treasury issues; Joseph Hezir, vice president, EOP Group, spoke on the tax aspects of a cap-and trade system; and Douglas Holtz-Eakin, senior policy advisor, John McCain Presidential Campaign, gave a campaign update.

The following activities have occurred since the Spring COT meeting:

* COT and CCR filed an amicus brief in the Textron case (on appeal in the 1st Circuit Federal Court of Appeals), to support the Federal District Court's decision and to address additional consequences that could result from an adverse ruling.

* COT drafted a comment letter for the Internal Revenue Service on its re-proposed regulations on the deduction and capitalization of tangible assets.

* COT formed a special task force to educate Congressional leadership and staff on critical tax reform issues.

* COT signed the R&D Tax Credit Coalition's letter advocating both renewal of many of the tax extenders that expired in 2007 and extending tax provisions that will expire in 2008.

Ron Dickel, vice president of Taxation for Alcoa, will chair COT for 2008-9.