August 01,2007

Baucus, Rangel Choose Kleinbard To Head Joint Committee On Taxation

World-renowned attorney will lead Committee that advises on all tax policy

Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Mont.) and House
Ways and Means Committee Chairman Charles Rangel (D-N.Y.) today announced that they will
name Edward Kleinbard as the next Chief of Staff for the Joint Committee on Taxation (JCT).
The Joint Committee is closely involved in every aspect of the tax legislative process, from the
development and analysis of tax proposals for Members of Congress to the drafting of tax bills,
estimates of all revenue legislation considered by the Congress, and investigations of various
aspects of the Federal tax system.

Kleinbard is currently a partner in the New York City office of Cleary Gottlieb Steen & Hamilton
LLP. His practice focuses on federal income tax planning and controversy, including taxation of
new financial products, derivatives, financial institutions, and international mergers and acquisitions. He is frequently cited as one of the world’s top tax lawyers, and his firm credits his
“intellectual rigor and passionate innovative spirit” for the growth of its leading tax practice.

“The vital role of the Joint Committee on Taxation demands a dynamic leader. Mr. Kleinbard’s expertise and enthusiasm for advancing tax law will result in a modernized, more responsive JCT that provides creative advice to Congress on policy matters and leverages the Committee’s resources into real results for American taxpayers,” Baucus said. “I intend to work closely with Mr. Kleinbard on issues from the AMT to the tax gap, and I’m convinced that he can provide the objective advice and leadership that will lead to sound tax policy from this and future Congresses.”

“Mr. Kleinbard's experience and passion will serve him well in his new role on Capitol Hill,” Chairman Rangel said. “I look forward to his contribution to the talented and dedicated staff of the JCT, who work so tirelessly to provide Members of Congress with the objective analysis we use to shape debate on tax policy.”

Kleinbard said today, “I am deeply honored that Chairman Baucus and Chairman Rangel have asked me to take on this responsibility. The Staff of the Joint Committee on Taxation has a proud history of serving both Houses of Congress, and both sides of the aisle, as a nonpartisan resource on federal tax legislation, and I hope to continue and build on that tradition.”

Kleinbard is also a prolific and well-respected tax author, with publications including upcoming
Brookings Institution papers on the reform of the business income tax. He has also regularly
lectured at New York University, the Practicing Law Institute, and similar conferences. Recently,
he was a Visiting Lecturer at Yale Law School, where he also received his Juris Doctor in 1976.
He received an M.A. degree and an undergraduate degree from Brown University in 1973.
He will join the JCT in September.

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