Re-examining Tax Policies and Priorities
The fiscal policies in place today will result in large, escalating, and persistent deficits that are economically unsustainable over the long term and too large to be eliminated by economic growth alone.
- The current fiscal imbalance requires changes in federal spending and tax policies.
Highlights of GAO-05-325SP (PDF)
- Tax reform could reduce the costs of raising revenue by reducing the negative effects of taxes on the economy.
- Analyses of how various tax structures affect different sectors and the ability to raise needed revenue will be needed.
Full Report of GAO-05-1009SP (PDF, 71 pages)
Figure 1: Federal Revenue as a Percentage of GDP, 2007
^ Back to topWhat Needs to Be Done
The nation’s fiscal policy is on an imprudent and unsustainable course. The Department of the Treasury should
- embark on a fundamental re-examination of major tax policies and priorities that will be important to recapture the nation’s future fiscal flexibility; and
Full Report of GAO-05-1009SP (PDF, 71 pages)
- ensure that adequate attention is focused on raising sufficient revenue in the most efficient, equitable, and administrable way.
Highlights of GAO-06-1113T (PDF), Highlights of GAO-06-1028T (PDF)
^ Back to topKey Reports
- Business Tax Reform: Simplification and Increased Uniformity of Taxation Would Yield Benefits
- GAO-06-1113T, September 20, 2006
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 35 pages) Accessible Text
- Individual Income Tax Policy: Streamlining, Simplification, and Additional Reforms Are Desirable
- GAO-06-1028T, August 3, 2006
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 29 pages) Accessible Text
- Understanding the Tax Reform Debate: Background, Criteria, and Questions
- GAO-05-1009SP, September 1, 2005
- Summary (HTML) Full Report (PDF, 77 pages) Accessible Text
