NEW YORK — Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation, commented today on tax reform, following President Trump’s remarks in Missouri.
“Smart tax reform will promote economic growth, increase fairness and simplicity, and improve the nation’s fiscal outlook. From both a fiscal and economic standpoint, tax reform is essential.
“In order to be truly pro-growth, tax reform must be paid for. Tax reform that worsens our fiscal condition is counterproductive because increasing our national debt harms economic growth. Reforming taxes in a fiscally responsible way will increase confidence and certainty, and improve conditions for economic growth.
“President Trump and Congress have a rare opportunity to reform our outdated tax code in a way that grows the economy, not the national debt. As we move toward more detailed proposals, lawmakers should work across party lines to craft durable, comprehensive tax reform that is both pro-growth and fiscally responsible.”