On January 7, 2005, President

George W. Bush George Walker Bush (born July 6, 1946) is an American politician and businessman who was the 43rd president of the United States from 2001 to 2009. A member of the Bush family and the Republican Party (United States), Republican Party, he i ...

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 party, politica ...

panel to advise on options to reform the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

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 politician who served as a member of the United States House of Representatives from Florida's 13th congressional district from 1983 to ...

, Chairman *

John Breaux John Berlinger Breaux (; born March 1, 1944) is an American lobbyist, attorney, and retired politician from Louisiana. He served in the United States House of Representatives, U.S. House of Representatives from 1972 to 1987 and as a United State ...

, 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. On July 1, 2015, she became the 13th president of Cornell University� ...

* Edward P. Lazear * Timothy J. Muris * James M. Poterba * Charles O. Rossotti * Liz Ann Sonders

References

Tax reform in the United States {{tax-stub