President's Advisory Panel on Federal Tax Reform
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The President's Advisory Panel on Federal Tax Reform was established January 7, 2005, by President George W. Bush via Executive Order. [1]
Advisory Panel Purpose
In accordance with the EO [2]: "The purpose of the Advisory Panel shall be to submit to the Secretary of the Treasury in accordance with this order a report with revenue neutral policy options for reforming the Federal Internal Revenue Code. These options should:
- 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.
- At least one option submitted by the Advisory Panel should use the Federal income tax as the base for its recommended reforms.
Panel Members
- Connie Mack III, Chairman
- John Breaux, Vice-Chairman; former U.S. Senator. Senator Breaux served on the Finance Committee and the sub-committee on Taxation and IRS Oversight.
- William Eldridge Frenzel; former Member of the U.S. House of Representatives; served on the Budget Committee and the Ways and Means Committee; Guest Scholar, Brookings Institution.
- Elizabeth Garrett, Professor of Law, University of Southern California; served as Legislative Director and Tax and Budget Counsel to former U.S. Senator David L. Boren.
- Edward P. Lazear, Senior Fellow, Hoover Institution and Professor of Human Resources, Management and Economics, Stanford University's Graduate School of Business; founding editor of the Journal of Labor Economics.
- Timothy J. Muris, Foundation Professor, George Mason School of Law and Of Counsel, O'Melveny & Myers LLP; served as Chairman of the Federal Trade Commission 2001 to 2004.
- James Michael Poterba, Department of Economics, Massachusetts Institute of Technology; Associate Department Head; taught at MIT since 1982.
- Charles O. Rossotti, Senior Advisor, The Carlyle Group; Commissioner of Internal Revenue 1997-2002; formerly served as the President, Chief Executive Officer and Chairman of the Board of American Management Systems.
- Liz Ann Sonders, Chief Investment Strategist, Charles Schwab; Managing Director and member Investment Policy Committees, U.S. Trust division, Charles Schwab, 1999.
