Tax Panel Announces Witness List for Sixth Meeting In San Francisco On March 31st

WASHINGTON, DC - Senators Connie Mack and John Breaux, Chairman and Vice-Chairman of the President's Advisory Panel on Federal Tax Reform, today announced the witness list for the Panel's sixth meeting to be held on Thursday, March 31, 2005 at 9:00 am at the Fort Mason Center, Landmark Building A, in San Francisco. This meeting will focus on how the tax system influences economic growth and international competitiveness. Biographical information for each witness is attached.

Panel I: Overview of International Tax Systems
Testimony of Willard Taylor
Partner, Sullivan & Cromwell, LLP
Testimony of Mihir Desai
Rock Center for Entrepreneurship Associate Professor, Harvard Business School
Testimony of Jeffrey Owens
Director, OECD Center on Tax Policy and Administration
Testimony of Larry Langdon
Partner, Mayer, Brown, Rowe & Maw LLP; Former Commissioner, Internal Revenue Service Large & Mid-Size Business Division

Panel II: How Taxes Affect Business Decisions
Testimony of Paul Otellini
President and Chief Operating Office, Intel Corporation
Testimony of Robert Grady
Managing Director, The Carlyle Group and Member of the Board of Directors of the National Venture Capital Association

Remarks by Milton Friedman, "Perspectives on Tax Reform"
Nobel Laureate in Economics
Senior Fellow, Hoover Institute

Panel III: Impact of Taxes on Savings, Investment, and Economic Growth
Testimony of Michael Boskin
Tully M. Friedman Professor of Economics and Senior Fellow, Stanford University and Hoover Institute
Testimony of Alan Auerbach
Robert D. Burch Professor of Economics and Law, University of California, Berkeley

About the Tax Reform Panel:
The President's Advisory Panel on Federal Tax Reform was established by President Bush on January 7, 2005 . President Bush has charged the bipartisan panel with recommending reforms to the tax code that will make the U.S. tax system simpler, fairer and more growth oriented. 

Panel Members

Connie Mack III (Chairman) , former U.S. Senator. Senator Mack served as Chairman of the Joint Economic Committee and was a member of the Finance and Banking committees. He is a Senior Advisor at King & Spalding LLP.

John Breaux (Vice-Chairman) , former U.S. Senator. Senator Breaux served on the Finance Committee and the sub-committee on Taxation and IRS Oversight. He is Senior Counsel at Patton Boggs LLP.

William Eldridge Frenzel , former Member of the U.S. House of Representatives. Mr. Frenzel served on the Budget Committee and the Ways and Means Committee. Mr. Frenzel is a Guest Scholar at the Brookings Institution.

Elizabeth Garrett , Sydney M. Irmas Professor of Public Interest Law, Legal Ethics and Political Science, University of Southern California . Ms. Garrett 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. Mr. Lazear is the 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. Mr. Muris served as Chairman of the Federal Trade Commission from 2001 to 2004.

James Michael Poterba , Department of Economics, Massachusetts Institute of Technology. Mr. Poterba serves as Associate Department Head. He has taught at MIT since 1982.

Charles O. Rossotti , Senior Advisor, The Carlyle Group. Mr. Rossotti served from 1997 to 2002 as Commissioner of Internal Revenue. He 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. Ms. Sonders joined U.S. Trust, a division of Charles Schwab, in 1999 as a Managing Director and member of its Investment Policy Committees.

###

Biographical Information for Witnesses Scheduled to Participate in the Sixth Meeting of The President's Advisory Panel on Federal Tax Reform March 31, 2005

Willard B . Taylor is a partner with the law firm of Sullivan & Cromwell LLP. Mr. Taylor specializes in the taxation of foreign operations of U.S. corporations, U.S. operations of foreign corporations, mergers and acquisitions and international transactions. He serves on the U.S. Council of the International Fiscal Association, is a member of the Tax Advisory Group of the Federal Income Tax Project of the American Law Institute, the American College of Tax Counsel and the Tax Advisory Committee of the Practicing Law Institute, and is a former Chairman of the Advisory Board of the New York University Institute on Federal Taxation. He holds a Law Degree and a B.A. from Yale University .

Mihir A. Desai is the Rock Center Associate Professor in the Finance and Entrepreneurial Management areas of Harvard Business School . Professor Desai's research focuses on international corporate and public finance. He is a Faculty Research Fellow in the National Bureau of Economic Research 's Public Economics and Corporate Finance Programs, and his research has been cited in The Economist, BusinessWeek, The New York Times, and several other publications. He received his Ph.D. in political economy from Harvard University ; his M.B.A. as a Baker Scholar from Harvard Business School; and a bachelor's degree in history and economics from Brown University . In 1994, he was a Fulbright Scholar to India .

Jeffrey Owens is the Director of the OECD's Center for Tax Policy and Administration which is the focal point for the Organization's work on taxation. He has taught at Cambridge University , the American University in Paris , Bocconi University in Italy and Queen Mary's College in London . He is a member of numerous scientific committees and frequently contributes to international conferences and journals. He holds a doctorate in Economics from Cambridge University .

Larry Langdon is a partner with the law firm of Mayer, Brown, Rowe & Maw LLP.  Mr. Langdon also served as the Commissioner of the Internal Revenue Service's Large & Mid-Size Business Division. Previously he was Vice President, General Transition Manager, and Vice President, Tax, Licensing and Customs, for the Hewlett-Packard Company.  Mr. Langdon received a B.S. in Business Administration and a law degree from Ohio State University , and an L.L.M. from the New York University School of Law.

Paul S. Otellini serves as Intel Corporation's president and chief operating officer, where he is responsible for all internal operations. In May 2005, Mr. Otellini will become Intel's fifth chief executive officer, succeeding Craig R. Barrett. Mr. Otellini joined Intel in 1974 and has served as president and COO since 2002. Mr. Otellini holds a bachelor's degree in economics from the University of San Francisco and a master's degree from the University of California , Berkeley .

Robert E. Grady serves as managing partner for The Carlyle Group's U.S. venture operation, Carlyle Venture Partners, and also coordinates its global venture capital group. Prior to joining Carlyle, Mr. Grady was a Managing Director and member of the Management Committee at Robertson Stephens, the San Francisco-based technology investment bank. Mr. Grady also served in the White House as Deputy Assistant to President George H. W. Bush and as Executive Associate Director of the Office of Management and Budget. He is a member of the Board of Directors of the National Venture Capital Association. Mr. Grady, a graduate of Harvard College and of the Stanford Graduate School of Business, has been on the faculty of the Stanford Graduate School of Business since 1994.

Milton Friedman , recipient of the 1976 Nobel Memorial Prize for economic science, has been a senior research fellow at the Hoover Institution since 1977. He is also the Paul Snowden Russell Distinguished Service Professor Emeritus of Economics at the University of Chicago , where he taught from 1946 to 1976, and was a member of the research staff of the National Bureau of Economic Research from 1937 to 1981. Professor Friedman was awarded the Presidential Medal of Freedom in 1988 and received the National Medal of Science the same year. He has published many books and articles, most notably A Theory of the Consumption Function, The Optimum Quantity of Moneyand Other Essays, and (with A. J. Schwartz) A Monetary History of the United States ,Monetary Statistics of the United States , and Monetary Trends in the United States and the United Kingdom. Professor Friedman received a B.A. in 1932 from Rutgers University , an M.A. in 1933 from the University of Chicago , and a Ph.D. in 1946 from Columbia University .

Michael J. Boskin is a senior fellow at the Hoover Institution and the T. M. Friedman Professor of Economics at Stanford University . He is also a research associate at the National Bureau of Economic Research. Professor Boskin served as chairman of the President's Council of Economic Advisers (CEA) from 1989 to 1993. He also chaired the Senate Finance Committee's 1996 Advisory Commission to Study the Consumer Price Index. Professor Boskin received his B.A. with highest honors and the Chancellor's Award as outstanding undergraduate in 1967 from the University of California at Berkeley , where he also received his M.A. in 1968 and his Ph.D. in 1971.

Alan J. Auerbach is Robert D. Burch Professor of Economics and Law, Director of the Burch Center for Tax Policy and Public Finance, and former Chair of the Economics Department at the University of California , Berkeley . He is also a Research Associate of the National Bureau of Economic Research. Previously, he taught at Harvard University and the University of Pennsylvania and was Deputy Chief of Staff of the Joint Committee on Taxation of the U.S. Congress. He has served as a member of the Executive Committee and as Vice President of the American Economic Association, and is a Fellow of the Econometric Society and of the American Academy of Arts and Sciences. He holds a Ph.D. in Economics from Harvard and a B.A. in Economics and Mathematics from Yale University.

# # #