President's Advisory Panel for Federal Tax Reform
Encyclopedia
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:
Panel members included:
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....
announced the establishment of the President's Advisory Panel for Tax Reform, a bipartisan panel to advise on options to reform the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
income tax
Income tax
An income tax is a tax levied on the income of individuals or businesses . Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate...
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.
Panel members included:
- Connie Mack IIIConnie Mack IIICornelius Alexander McGillicuddy III , popularly known as Connie Mack, is a former Republican politician. He served as a member of the United States House of Representatives from Florida from 1983 to 1989 and then as a Senator from 1989 to 2001. He served as chairman of the Senate Republican...
, Chairman - John BreauxJohn BreauxJohn Berlinger Breaux is a former United States senator from Louisiana who served from 1987 until 2005. He was also a member of the United States House of Representatives from 1972 to 1987. He was considered one of the more conservative national legislators from the Democratic Party...
, Vice-Chairman - William E. Frenzel
- Elizabeth GarrettElizabeth GarrettElizabeth Garrett is Provost and Senior Vice President for Academic Affairs and Frances R. and John J. Duggan Professor of Law, Political Science and Public Policy at the University of Southern California...
- Edward P. Lazear
- Timothy J. Muris
- James M. PoterbaJames M. PoterbaJames Michael "Jim" Poterba is an American economist, Mitsui Professor of Economics at the Massachusetts Institute of Technology, and current NBER president and chief executive officer.- Early years :...
- Charles O. RossottiCharles O. RossottiCharles O. Rossotti is an American businessman, and former Commissioner of Internal Revenue. Rossotti has a Bachelor of Arts degree in economics from Georgetown University and an MBA from Harvard Business School ....
- Liz Ann Sonders