The Joint Committee on Taxation is a nonpartisan committee of the United States Congress, originally established under the Revenue Act of 1926. The Joint Committee operates with an experienced professional staff of Ph.D economists, attorneys, and accountants, who assist Members of the majority and minority parties in both houses of Congress on tax legislation.
The Joint Committee is chaired on a rotating basis by the Chairman of the Senate Finance Committee and the Chairman of the House Ways and Means Committee. During the first Session of each Congress the House has the Chair and the Senate has the vice-chair; during the second session the roles are reversed.
The Joint Committee Staff is closely involved with every aspect of the tax legislative process, including:
- Assisting Congressional tax-writing committees and Members of Congress with development and analysis of legislative proposals;
- Preparing official revenue estimates of all tax legislation considered by the Congress;
- Drafting legislative histories for tax-related bills; and
- Investigating various aspects of the Federal tax system.
The Joint Committee Staff interacts with Members of Congress, Members of the tax-writing committees, and their staff on a confidential basis and enjoys a high-level of trust from both sides of the political aisle and in both houses of Congress. Because the Joint Committee Staff is independent, tax-focused, and involved in all stages of the tax legislative process, the staff is able to ensure consistency as tax bills move through committees to the floor of each chamber, and to a House-Senate conference committee.
(Statutory Basis for JCT)