Comprehensive reform carries with it serious effects on our economy, along with the potential to unleash significant growth if done well. Federal tax revenues account for nearly one-fifth of GDP, and any change needs to be looked at very carefully.
Council Members have consistently placed tax reform and simplification at the top of their list of things the federal government can do to help their businesses. House Ways and Means Committee Chairman Dave Camp’s (R-MI) release today of a discussion draft on comprehensive tax reform is a great starting point and we hope the Congress and the Administration can work together to move reform forward.
More is here.