Industry officials cautioned members of the House Ways and Means Committee that the first step in reforming the tax code as it relates to individual retirement tax policy should be to "do no harm."
At a hearing Tuesday on tax reform and tax-favored retirement accounts, Randolf H. Hardock, managing partner at Davis & Harman LLP, said that the "wisest course in most instances will be to 'do no harm' and avoid new laws or regulations that would disrupt the successes of the current system."
The hearing was convened by the full House Ways and Means Committee, which, by law, must originate tax policy legislation.
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