US Task Force proposes national sales tax to battle runaway debt

On November 17 the Bipartisan Policy Centre’s Debt Reduction Task Force (Task Force) released its anticipated plan to reduce US debt. The Task Force, co-chaired by former White House budget director and Federal Reserve vice-chair Dr. Alice Rivlin, and former Senate Budget Committee Chairman Pete Domenici, proposed a broad-based tax on goods and services. The tax, intended to revitalise the US economy, is described in a 140-page report, titled “Restoring America’s Future.”