Various news outlets, including the Los Angeles Times and Politico, are reporting that Pres. Obama will nominate Sen. Max Baucus (D-MT) to serve as the ambassador to China. Sen. Baucus has served in the Senate since 1978. He is currently the chairman of the Senate Banking Committee. Earlier this year he began releasing tax reform language.
The Los Angeles Times report that the move shows that tax reform has stalled. The outlet also reported that the move might help Democrats hang on to Sen. Baucus' seat in 2014. He is set to retire at the end of next year. Sen. Baucus has visited China eight times and has also hosted Chinese officials a number of times, many of which are senior officials.
The League and CUNA are monitoring the nomination and will evaluate how this will effect tax reform. You can read the full
Los Angeles Times story on its website.