Baucus to be Nominated Ambassador to China

This week, Senate Finance Committee Chairman Max Baucus (D-Mont.) told colleagues that he intends to be nominated by President Obama to be the next ambassador to China, succeeding outgoing U.S. Ambassador Gary Locke. As one of the most tenured senators currently serving, his potential early resignation in the Senate could trigger new policy and political implications in 2014, including passage of a tax reform bill A resignation by Baucus would leave Senator Jay Rockefeller (D-W.Va) as the successor to the Finance Committee chairmanship, but Rockefeller has signaled that he intends to remain chair of the Commerce Committee until he retires at the end of 2014. Next in line is Senator Ron Wyden (D-Ore.) who has a keen interest in tax reform and it is likely to take up the charge.  However, much of the momentum Baucus and his staff have gained to potentially pass a tax reform bill in 2014 will be lost.  It is not yet known when Baucus's nomination will reach the Senate for consideration. For more information, please contact Brian Lenihan at (202) 547-4733 or lenihanb@agc.org.