Expiring Provisions Improvement, Reform, and Efficiency Act of 2014

Short title— This Act may be cited as the “Expiring Provisions Improvement, Reform, and Efficiency Act of 2014” or the “EXPIRE Act of 2014”.

Amendment of 1986 Code— Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.

Table of contents— The table of contents for this Act is as follows:

a process of comprehensive tax reform should commence in the 114th Congress and should conclude before January 1, 2016;

Congress should endeavor, as part of such a tax reform process, to eliminate temporary provisions from the Internal Revenue Code of 1986 by making permanent those provisions that merit permanency and allowing others to expire;

a major focus of such tax reform process should be fostering economic growth and lowering tax rates by broadening the tax base; and

the chairman and ranking member of the Committee on Finance of the Senate should consult with the chairman and ranking member of the Committee on the Budget of the Senate to ensure that the appropriate baseline is used in determining the economic effects of, and rate adjustments under, tax reform.