WASHINGTON -- Sen. Paul Coverdell, R-Ga., is leading an effort to amend the Constitution to prevent retroactive taxation, but a Senate hearing yesterday made clear that such action will not happen any time soon.

Coverdell, who requested the hearing by the Senate Judiciary Committee's subcommittee on the Constitution, said that the Supreme Court has failed to apply constitutional protections against after-the-fact laws, most recently in its June 13 decision in U.S. v. Carlton.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.