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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