As Congress and the administration continue to work to overhaul the nation’s broken tax code, Senate Finance Committee Chairman Orrin Hatch (R-Utah) called on tax stakeholders to provide ideas, proposals, and feedback on how to improve the American tax system.
“After years of committee hearings, public statements, working groups, and conceptual exercises, Congress is poised to make significant steps toward comprehensive tax reform,” Hatch said in a letter. “Members from both parties have acknowledged the shortcomings of our current tax system and the need for meaningful reforms to encourage economic growth and alleviate many of the burdens imposed on hardworking taxpayers…As we work to achieve those goals, it is essential that Congress has the best possible advice and insight from experts and stakeholders.”
Submissions may be made to the Senate Finance Committee at [email protected].
Specifically, Chairman Hatch is looking for recommendations on:
- Providing much-needed tax relief to middle-class individuals and families through reforms to the individual income tax system;
- Strengthening businesses – both large and small – by lowering tax rates and broadening the relevant tax base in order to put the economy on a better growth path and create jobs;
- Removing impediments and disincentives for savings and investment that exist in the current tax system; and
- Updating our international tax system in order to make our nation more competitive in the global economy and preserve our tax base.
The full letter can be found below or by clicking here.
Dear Stakeholders,
After years of committee hearings, public statements, working groups, and conceptual exercises, Congress is poised to make significant steps toward comprehensive tax reform. Members from both parties have acknowledged the shortcomings of our current tax system and the need for meaningful reforms to encourage economic growth and alleviate many of the burdens imposed on hardworking taxpayers. With the support of the Trump Administration, the momentum for tax reform is at peak levels, and, as Chairman of the Senate Finance Committee, I am committed to doing all I can to make this effort a success.
Our nation’s last major tax overhaul took place more than three decades ago. Since that time, our tax code has grown more complex, become less fair, and has failed to evolve with the changing needs of our citizens and the economy. Our chief goals in this effort should be to create a simpler and fairer system that is more conducive to sustained economic growth in the 21st Century global marketplace.
As we work to achieve those goals, it is essential that Congress has the best possible advice and insight from experts and stakeholders. Toward that end, I have established an orderly process for the submission of advice and recommendations on the part of any interested stakeholders.
While the hope is to receive submissions that address a variety of tax-related topics, most matters under serious discussion fall under one of four key issue areas:
- Providing much-needed tax relief to middle-class individuals and families through reforms to the individual income tax system.
- Strengthening businesses – both large and small – by lowering tax rates and broadening the relevant tax base in order to put the economy on a better growth path and create jobs.
- Removing impediments and disincentives for savings and investment that exist in the current tax system.
- Updating our international tax system in order to make our nation more competitive in the global economy and preserve our tax base.
As this effort moves forward, it is important that everyone – including members of Congress, administration officials, and stakeholders – manage expectations and remain willing to compromise on ideal policy preferences. Make no mistake, I intend to be ambitious in crafting effective tax reform legislation. However, all of us must keep in mind the fiscal, economic, and procedural constraints inherent in this exercise. Therefore, it is my hope that any input submitted in response to this request will keep those realities in mind.
Please submit all written comments and recommendations via email at [email protected].
Thank you for your attention regarding this important matter.
