On January 7, 2005, President

George W. Bush George Walker Bush (born July 6, 1946) is an American politician who served as the 43rd president of the United States from 2001 to 2009. A member of the Republican Party, Bush family, and son of the 41st president George H. W. Bush, he ...

announced the establishment of the President's Advisory Panel on Federal Tax Reform, a

bipartisan Bipartisanship, sometimes referred to as nonpartisanship, is a political situation, usually in the context of a two-party system (especially those of the United States and some other western countries), in which opposing political parties find co ...

panel to advise on options to reform the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territo ...

income tax An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Tax ...

code to make it simpler, fairer, and more pro-growth to benefit all Americans.

Origins

The task force was created by the President's Executive Order 13369, amended by subsequent orders 13379 and 13386.

Report

On November 1, 2005, the Advisory Panel submitted to the

Secretary of the Treasury The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal a ...

a report containing revenue-neutral policy options for reforming the Federal Internal Revenue Code. The options are meant to: * simplify Federal tax laws to reduce the costs and administrative burdens of compliance with such laws; * share the burdens and benefits of the Federal tax structure in an appropriately progressive manner while recognizing the importance of homeownership and charity in American society; and *promote long-run economic growth and job creation, and better encourage work effort, saving, and investment, so as to strengthen the competitiveness of the United States in the global marketplace.

Members

Panel members included: *

Connie Mack III Cornelius Alexander McGillicuddy III (born October 29, 1940), also known as Connie Mack III, is an American retired Republican politician. He served as a member of the United States House of Representatives from Florida from 1983 to 1989 and ...

, Chairman *

John Breaux John Berlinger Breaux (; born March 1, 1944) is an American lobbyist, attorney, and retired politician who was a member of the United States Senate from Louisiana from 1987 until 2005. He was also a member of the U.S. House of Representatives fr ...

, Vice-Chairman * William E. Frenzel *

Elizabeth Garrett Helen Elizabeth Garrett, commonly known as Elizabeth Garrett or Beth Garrett (June 30, 1963 – March 6, 2016), was an American professor of law and academic administrator. Between 2010 and 2015, she served as Provost and Senior Vice President ...

* Edward P. Lazear * Timothy J. Muris *

James M. Poterba James Michael "Jim" Poterba, Fellow of the British Academy, FBA (born July 13, 1958) is an American economist, Mitsui Professor of Economics at the Massachusetts Institute of Technology, and current National Bureau of Economic Research, NBER presi ...

* Charles O. Rossotti * Liz Ann Sonders

References

Tax reform in the United States {{tax-stub