Peterson Foundation Statement on Tax Reform
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“President Trump and Congress have a rare opportunity to reform our outdated tax code in a way that grows the economy, not the national debt.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.”
Further Reading
How Much Do We Spend on the Federal Workforce?
Here, we examine the federal government’s expenditure on its workforce, the evolution of its size over time, and the opportunities for budget savings.
What Are Interest Costs on the National Debt?
Interest costs are on track to become the largest category of spending in the federal budget.
The One Big Beautiful Bill Act Is the Most Expensive Reconciliation Package in Recent History
The legislative package will be the most expensive reconciliation bill in a quarter of a century and will add trillions of dollars to the U.S. debt.