Paulson to convene tax-business forum

The Secretary of the Treasury will hold a conference to examine the tax system's effect on U.S. businesses and economic growth. The one-day conference, scheduled for July 26, comes as the Treasury is examining controversial tax regulations and private equity partnerships that launch initial public offerings. Last month, Mr. Paulson announced plans to review U.S. regulatory systems to help the U.S. maintain its position as the global leader in the capital markets (InvestmentNews, June 27). The review, which will be conducted by officials at the Treasury department, will release its blueprint for reforms by early next year. Some of the issues to be addressed include the pursuit of a modernized regulatory structure; encouraging development and adaptation of industry best practices for asset managers and hedge fund investors; modernization of the Treasury's cash management and debt management departments and a greater push for financial education. Participants from the Treasury include Mr. Paulson, domestic finance undersecretary Robert Steel; tax policy assistant secretary Eric Solomon and deputy assistant secretary for tax analysis, Robert Carroll.