Sunday, December 14, 2014

Here's how Senate Republicans plan to reform the tax code

On Thursday, the Republican staff of the Senate Finance Committee released a report on the prospects of tax reform in the next session of Congress. The report gives insight into what policy reforms Sen. Orrin Hatch, R-Utah, might push as he takes over the committee when Republicans assume control of the Senate next month.

Committee staff listed seven principles to guide tax reform. “The first three principles are adopted from President Reagan’s tax reform in the mid-1980s, with four additional principles that are critical in today’s world: (1) efficiency and economic growth, (2) fairness, (3) simplicity, (4) revenue neutrality, (5) permanence, (6) competitiveness, and (7) incentives for savings and investment.”

Read more at the Washington Examiner


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