Statement from the Peterson Foundation on Chairman Camp’s Tax Reform Discussion Draft
NEW YORK — Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, commented today following the release of the “Tax Reform Act of 2014,” by Ways and Means Chairman Dave Camp:
”Chairman Camp deserves credit for putting forward a constructive proposal to address our broken tax code. His draft legislation presents a valuable and long-overdue opportunity for our nation’s policymakers to begin a real conversation about tax reform — an issue at the heart of our nation’s economic future. A well-crafted, bipartisan reform plan would not only make the code more simple and more fair, but could also boost our economy and improve our fiscal outlook over the long term.”
For the Committee on Ways and Mean’s Tax Reform Plan, click here. For the Joint Committee on Taxation’s analysis of the “Tax Reform Act of 2014,” click here.
Further Reading
What Are Refundable Tax Credits?
The cost of refundable tax credits has grown over the past several years, with the number and budgetary impact of the credits increasing.
Three Reasons Why Assuming Sustained 3% Growth is a Budget Gimmick
Lawmakers are reportedly counting on 3 percent economic growth for the next decade. Here are three key reasons why that is an irresponsible budget gimmick.
What Is the Primary Deficit?
The primary deficit is the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.