Senate’s Baucus outlines US tax reform goals
12 June 2012
Matthew Gilleard - ITR
Senate Finance Committee chairman Max Baucus yesterday laid out his goals for comprehensive US tax reform in a speech to the Bipartisan Policy Center. Baucus said any new-look tax code should promote and enhance broad-based job growth, competitiveness, innovation, and opportunity.
He commented on the need for tax reform to raise revenue to ease the nation’s fiscal troubles, as well as emphasising the fact that the US tax code has not been reformed for more than 25 years. He called for a “tax code for the 21st century”.
“We need to get our fiscal house in order,” said Baucus. “Any tax reform plan must be developed with a sound budget in mind that reduces deficits and debt. But the deficit is not our only hurdle – not by a long shot. Since the last major tax reform in 1986, the world has changed drastically. Our tax...
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