Over the years, Congress has considered (several times) various “partnership simplification” plans. For example, imagine how much less complex partnership taxation would be if § 751 was repealed—the whole idea of “hot assets” would disappear. Try different searches in Checkpoint to see if any such changes are in the works. For example, is there any “News” in the area? If you look at “Bill Tracker” for § 751, do you see any pending legislation that might repeal it? Write a memo to your instructor outlining your ideas for simplifying partnership taxation. Include your findings on any potential changes to “hot assets” and the ramifications if § 751 was repealed as well as other ideas you come up with on your own or through your research.