President's Advisory Panel on Federal Tax Reform - Federal Tax Reform

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View Comments Received, Request for Comments #1-3 and General Comments

Request for Comments

The President has clearly outlined the mission of this Advisory Panel in Executive Order No. 13369. During this process of examination, the Advisory Panel is committed to ensuring that all interested parties have an opportunity to share views and concerns. Throughout the course of the Panel's work, comments will be solicited on specific matters. Interested parties are strongly encouraged to submit comments within the scope of these questions.

Request for Comments #3 (May 17, 2005 - June 10, 2005)

Submissions in connection with the panel's third request for comments must be received by 5:00 p.m. on Friday, June 10, 2005. Please be aware that all comments will be made available to the public.

The Panel is soliciting comments on the potential benefits and problems with the various tax reform proposals that have been presented to the Panel. The presentations from the public meetings, as well as other written submissions, are available on this website.

Page Limit - The Advisory Panel strongly encourages parties to limit their statements to a maximum length of 5 pages (excluding a one-page summary) of double-spaced written text in 12 point font.

Identification and Cover Sheet - Each page of the submission should be clearly marked with the submitter's name or organization name. Each submission should also include a cover page with the submitter's name (and organization if applicable), date of submission, and contact information (if the submitter chooses to provide it). Each submission should be clearly marked as originating from one of the following categories of submitters: Individuals, Business, Government, or Organizations and Associations.

Comments outside the scope of these specific matters will be considered separately. However, the Advisory Panel requests that the comments to these specific questions follow the format and guidelines described above.

Request for Comments #2 ( April 5, 2005 - April 29, 2005 )

Submissions in connection with the panel's second request for comments must be received by 5:00 p.m. on Friday, April 29, 2005 . Please be aware that all comments will be made available to the public.

The Advisory Panel is soliciting comments regarding specific proposals to reform the tax code. Comments may include proposals to replace or comprehensively reform the existing tax system or proposals to reform particular aspects or elements of the current tax code.

Page Limit - Proposal descriptions for comprehensive reform should be limited to 10 pages (excluding a one-page summary) of double-spaced written text in 12 point font. Proposals for reform of particular aspects or elements of the current tax code should be limited to 5 pages (excluding a one-page summary).

Identification and Cover Sheet - Each page of the proposal should be clearly marked with the submitter's name or organization name. Each proposal should also include a cover page with the submitter's name (and organization if applicable), date of submission, and contact information (if the submitter chooses to provide it). Each proposal should be clearly marked as originating from one of the following categories of submitters: Individuals, Business, Government, or Organizations and Associations.

To assist the Advisory Panel in evaluating and comparing specific proposals for reform, supporters should provide the following information:

I. Description of Proposal . Proposals for comprehensive reform should include a description of the design of the proposal's components, including the following:

the tax base (income, consumption, hybrid)
exemptions, deductions, credits and exclusions
tax rate(s)
distribution of the tax burden (including provisions for relief for low-income individuals);
treatment of charitable giving
treatment of home ownership
collection method(s) and
treatment of businesses

Proposals to reform particular aspects or elements of the current code should include a specific description of the proposed changes and an explanation of which components of our tax system would be altered.

II. Impact of Proposal Relative to Current System . The description of the tax reform proposal should include an explanation of how it compares to our existing system in terms of the following factors:

simplicity (including transparency and stability)
fairness
economic growth and competitiveness
compliance and administration costs

III. Transition, Tradeoffs and Special Issues . The description of the tax reform proposal should include an explanation of any special issues or considerations, such as the tradeoffs that would be required, favorable/unfavorable treatment of particular industries or sectors within the economy, or the impact of transition from our current system to the proposed system.

As noted above, all options recommended by the Advisory Panel must be revenue neutral . The Advisory Panel invites commentators to provide information regarding the expected revenue impact of the proposal and, if possible, the assumptions made in estimating the revenue impact.

Comments outside the scope of these specific matters will be considered separately. However, the Advisory Panel asks that the proposals to this specific request follow the format and guidelines described above.

Request for Comments #1 ( February 16, 2005 - March 18, 2005 )

Statements submitted in connection with the panel's first request for comments must be received by the Advisory Panel no later than 5:00 p.m. on March 18, 2005. Please be aware that all comments will be made available to the public.

Page Limit - The Advisory Panel strongly encourages parties to limit their statements to a maximum length of 5 pages of double-spaced written text in 12 point font.

At this time, the Panel is soliciting comments on the following questions:

Headaches, unnecessary complexity, and burdens that taxpayers - both individuals and businesses - face because of the existing system.
Aspects of the tax system that are unfair.
Specific examples of how the tax code distorts important business or personal decisions.
Goals that the Panel should try to achieve as it evaluates the existing tax system and recommends options for reform.