President's Advisory Panel for Federal Tax Reform
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On January 7, 2005, President George W. Bush announced the establishment of the President's Advisory Panel for Tax Reform, a bipartisan panel to advise on options to reform the United States income tax code to make it simpler, fairer, and more pro-growth to benefit all Americans.
On November 1, 2005, the Advisory Panel submitted to the Secretary of the Treasury a report containing revenue-neutral policy options for reforming the Federal Internal Revenue Code. The options are meant to:
- simplify Federal tax laws to reduce the costs and administrative burdens of compliance with such laws;
- share the burdens and benefits of the Federal tax structure in an appropriately progressive manner while recognizing the importance of homeownership and charity in American society; and
- promote long-run economic growth and job creation, and better encourage work effort, saving, and investment, so as to strengthen the competitiveness of the United States in the global marketplace.[1]
Panel members included:
- Connie Mack III, Chairman
- John Breaux, Vice-Chairman
- William E. Frenzel
- Elizabeth Garrett
- Edward P. Lazear
- Timothy J. Muris
- James M. Poterba
- Charles O. Rossotti
- Liz Ann Sonders
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[edit] References
- ^ ""Final Report"" (HTML with PDF chapters). taxreformpanel.gov. President's Advisory Panel for Tax Reform. November 1, 2005. http://govinfo.library.unt.edu/taxreformpanel/final-report/index.html. Retrieved 2010-10-13.
