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“President Trump and Congress have a rare opportunity to reform our outdated tax code in a way that grows the economy, not the national debt.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
Social Security Faces Serious Financial Shortfalls and Other Takeaways From the Trustees Report
Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
Social Security and Medicare Trust Funds Could Be Depleted Within the Next Decade
Today, the Social Security and Medicare Trustees released their annual reports on the programs’ financing, showing that the future of these vital programs remain at risk.
What Are Earmarks and What Purpose Do They Serve?
Earmarks have been controversial, but nevertheless were reinstated by Congress in 2021 after a 10-year moratorium.