After announcing yesterday that he would retire at the end of his term in 2014, Senate Finance Committee Chairman Max Baucus said today that he will "double down" on his tax reform efforts. Baucus said, “I've got a lot more free time now. . . . I don't have to campaign. I don't have to go around the country fundraising." Baucus said that the Administration, congressional leadership, and tax-writing committees need to come to an agreement on the process for tax reform. Baucus said, “Basically, we need an agreement on the process, what's the best process that will enable us to get there. And it's not yet been agreed to. We've just got to get that worked out, the sooner the better."

House Ways and Means Chairman Dave Camp said today, “I actually think it makes tax reform more likely because he will be able to devote, as he said in his statement, his full attention to his responsibilities as chairman.”