Opinion

6 ways to make tax reform happen

Here are six ideas that can guide Congress to a tax reform-deal that both parties should be able to live with – a deal that will raise necessary revenue and help pay down the debt.

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3. Eliminate special-interest tax loopholes

The individual tax code is riddled with deductions, exemptions, and credits that provide benefits to certain groups of taxpayers and favor certain forms of consumption and investment over others.

In some cases, these provisions are similar to earmarks that used to plague the annual appropriations bills in Congress. These preferences make the income tax unfair because it can impose radically different tax burdens on two different taxpayers with precisely the same annual income.

An ideal reform must eliminate such distortions, as the Bipartisan Policy Center’s plan does.

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