John Bullis: When can we expect tax reform?

With Congress all tied up and failing to agree on almost anything, I wonder when we can expect Congress to reform our tax laws. Recently a tax writer for the U.S. Senate vowed to work on overhauling the federal tax code by August 2015. It is long past time to reduce the corporation income tax rates. Sen. Ron Wyden said rate reduction to 24 percent (from 35 percent) is possible by “eliminating loopholes”.