Baucus targets end of year for tax-reform deal

HELENA, Mont. - U.S. Sen. Max Baucus is targeting the end of the year to introduce and reach a bipartisan agreement on a tax-reform bill.

The Senate Finance Committee chairman says even if negotiations go into 2014, Congress should be able to pass a bill in an election year.

Baucus announced Tuesday that he wouldn't seek a seventh term next year.

The Montana Democrat discussed that decision and his legislative priorities Friday outside his family's Helena home.

Baucus says the tax system is overly complicated and outdated. He says the aim is to eliminate a lot of deductions, credits and exclusions from the code, but it is premature to say which ones.

He says the goal is to simplify the code so it makes the U.S. more competitive, particularly small businesses.

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