US Taxpayers’ Input Sought On Tax Reform
Credit: Tax News
The Senate Committee on Finance has asked for public input on US tax reform options.
The Chairman of the Senate’s tax-writing committee, Orrin Hatch (R – UT), wrote an open letter asking stakeholders to provide ideas, proposals, and feedback on how to improve the US tax system. “It is essential that Congress has the best possible advice and insight from experts and stakeholders,” he said.
The Finance Committee has asked for responses by July 17. It has asked specifically for recommendations in certain areas. These include on how to provide relief to middle-class individuals and families, strengthen business, encourage savings and investment, and make the US international tax system more competitive.
Hatch was optimistic about the prospect of achieving meaningful reform, saying that “the momentum for tax reform is at peak levels.” However, he said that he hoped input would keep in mind the realities of “fiscal, economic, and procedural constraints inherent in this exercise.”