Watch Your Wallets!

Politico reports:

Updating the federal tax code could be the next area in which the Democratic Senate can find common ground with the Republican House, according to Rep. Paul Ryan (R-Wis.) and Sen. Patty Murray (D-Wash.).

Ryan, the House Budget Committee chairman, said he expects Republicans in the House to begin moving on tax reform early in 2014, starting with action on the House Ways and Means Committee, on which Ryan serves.

"Watch the Ways and Means Committee in the first quarter of next year," Ryan said in an interview that aired Sunday on NBC's "Meet the Press."

"We're going to be advancing tax reform legislation because we think that's a key ingredient to getting people back to work, to increasing take-home pay, to growing this economy."

Tax reform is always code for higher taxes. Reform isn't what is needed, taxes cuts from the current structure is what is needed.