The activities of the President's Advisory Panel on Federal Tax Reform terminated after issuing its final report to the Secretary of the Treasury on November 1, 2005. The final report of the Panel is available at http://www.taxreformpanel.gov/final-report/.

Latest News and Announcements

• Final Report Issued

• The Statement by the President's Advisory Panel on Federal Tax Reform, "America Needs a Better Tax System": For millions of Americans, the annual rite of filing taxes has become a headache of burdensome record-keeping, lengthy instructions, and complicated schedules, worksheets, and forms – often requiring multiple computations that are neither logical nor intuitive.

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Federal Tax Reform

On January 7, 2005, President Bush announced the establishment of a bipartisan panel to advise on options to reform the tax code to make it simpler, fairer, and more pro-growth to benefit all Americans.

The Advisory Panel will submit to the Secretary of the Treasury a report containing revenue neutral policy options for reforming the Federal Internal Revenue Code as soon as practicable, but not later than November 1, 2005. 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.