• Suite 200, 1708 Peachtree St. NW, Atlanta, GA 30309. 404-607-8400
  • 1516 Village Harbor Drive, Lake Wylie, SC 29710. 803-831-0263
  • 404-607-8400 & 803-831-0263

Seven Principles of Tax Reform

On January 19, 2015 posted in Specialty Tax Services Blog

Seven Principles of Tax Reform

COULD IT REALLY HAPPEN? LAWMAKER’S SEVEN PRINCIPLES FOR TAX REFORM

A key Republican leader in the Senate has paved the way for a serious tax reform effort by establishing seven guiding principles for comprehensive reform of the U.S. tax code. Sen. Orrin Hatch (R-UT), the new Chairman of the Senate Finance Committee, offered these catchphrases to “help set the stage” for Congressional reform efforts:

  • promote economic growth
  • fairness
  • simplicity
  • permanence
  • promote competitiveness
  • promote savings and investment
  • revenue neutrality (new law will not increase nor decrease government revenues)

 

“Tax reform is no longer optional,” Hatch observed. As a senior member of Congress known for bipartisanship, his leadership on this issue could jump-start the process. We are keeping an eye on this fellow. Read his statement here.