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The Senate Budget Committee heard more testimony last week which placed the spotlight on the November 2010 plan from President Obama’s National Commission on Fiscal Responsibility and Reform, better known as the Bowles - Simpson plan.

Mike Danilack is not making any excuses.

PricewaterhouseCoopers in the US has hired Sean Rutter as a tax partner. He will be based in PwC’s Milwaukee office, part of the firm’s Greater Chicago region.

Ronald Schultz has joined PwC as a managing director in the firm’s Washington National Tax Services office. He will specialise in exempt organisations.

Ailish Finnerty, who has been a tax partner at Arthur Cox since 2008, has been appointed as resident partner in the firm’s office in New York.

Francisco Picó has been appointed partner at Cuatrecasas, Gonçalves Pereira. The appointment was made at the firm’s partners’ assembly in Madrid on March 24 and 25.

One of Ireland’s leading international tax advisers, John Ryan, is to relocate to Matheson Ormsby Prentice’s New York office. The move will be effective from June 2011.

Richard Asquith of TMF Group says the EU’s VAT recovery system is not working properly only two days before the latest deadline

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $2.4 billion eBay Inc GSI Commerce Inc Davis Polk & Wardwell - Rachael Kleinberg, Ryan LaRosa; Dewey & LeBoeuf Morgan, Lewis & Bockius Acquisition $1.1 billion Advantest Corporation Verigy Ltd Skadden, Arps, Slate, Meagher & Flom Wilson Sonsini Goodrich & Rosati Acquisition $313.5 million Host Hotels & Resorts Inc New York Helmsley Hotel Davis Polk & Wardwell Skadden, Arps, Slate, Meagher & Flom Acquisition Undisclosed Odewald KMU Polytech Ophthalmologie GmbH (Reese family) Hengeler Mueller - Matthias Scheifele Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Subscription rights capital increase $7 billion Porsche Automobil Holding SE N/A Hengeler Mueller - Ernst-Thomas Kraft, Mathias Link N/A Refinancing $3.25 billion Warner Chilcott plc Bank of America, NA; Credit Suisse AG Davis Polk & Wardwell - Michael Mollerus, Craig Phillips Cahill Gordon & Reindel 3-year revolving credit agreement $1.125 billion National Rural Utilities Cooperative Finance Corporation (NRUCFC) JP Morgan Securities; RBS Securities; The Bank of Nova Scotia Dewey & LeBoeuf Davis Polk & Wardwell Public offering $1.107 billion HCP Inc BofA Merrill Lynch Skadden, Arps, Slate, Meagher & Flom - John Rayis SEC-registered offering $400 million Genworth Financial Inc Deutsche Bank Securities; Goldman, Sachs & Co. Weil, Gotshal & Manges Davis Polk & Wardwell - Lucy Farr, Jason Chlipala Convertible senior notes offering $115 million Photronics Inc JP Morgan Securities Davis Polk & Wardwell - Rachael Kleinberg, Ryan LaRosa Kelley Drye & Warren SEC-registered offering $86.25 million Hawaiian Holdings Inc UBS Securities Wilson Sonsini Goodrich & Rosati Davis Polk & Wardwell - Lucy Farr, Juelle Gomes

The US Treasury’s top tax policy official has responded to recent calls by lawmakers and businesses for a repatriation tax holiday.