Tax Reform and Distributional Issues (CRS Report for Congress)
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| Release Date |
Revised Sept. 7, 2007 |
| Report Number |
RL33285 |
| Report Type |
Report |
| Authors |
Jane G. Gravelle, Government and Finance Division |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
The most significant tax reform in recent There are proposals to maintain or extend the recently enacted tax cuts,including the benefit for IRAs and dividends and capital gains. The President hasproposed greatly expanding preferences for individual savings accounts as well.Some current proposals, including congressional proposals, propose afundamental change by moving to a consumption base. These consumption baseproposals include S. 1040 (Shelby) and S. 1081 (Specter), which propose a flat tax(a tax on wages at the individual level and cash flow of businesses). H.R. 25 (Linder)and S.1025 (Chambliss) propose a national retail sales tax. H.R. 1040 (Burgess)would allow the option of a flat tax.
