PRESIDENT'S ADVISORY PANEL ON FEDERAL TAX REFORM

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



The Advisory Panel is to submit to the Secretary of the Treasury a report containing revenue neutral policy options for reforming the Internal Revenue Code as soon as practicable, but not later than July 31, 2005. According to the Advisory Panel's mandate, these options should: