WASHINGTON, D.C. - House Ways and Means Tax Policy Subcommittee Chairman Charles Boustany (R-LA) announced the witnesses for tomorrow’s hearing regarding legislative proposals for reforming our current income tax system. At the hearing:
* Bob Goodlatte (R-VA) will discuss the merits of his bill, the Tax Code Termination Act. This proposal ends the current tax code after Dec. 31, 2019 and requires Congress to adopt a fair and simple federal tax system by July of the same year.
* Roger Williams (R-TX) will testify in support of his proposal, the Jumpstart America Act, which includes six separate pieces of legislation. His proposal lays out a comprehensive income tax reform plan that taxes individuals under a two-bracket system; repeals the estate tax; and restructures the corporate income tax, including a significant reduction in the rate.
* Thomas Barthold, Joint Committee on Taxation Chief of Staff, will explain key considerations in broad-based income tax reform.
NOTE:
This is the second in a series of hearings on fundamental tax reform proposals. At the first hearing last month, Representatives Nunes (R-CA), Burgess (R-TX), and Woodall (R-GA) presented their ideas for moving our primarily income-based tax system to a cash-flow or consumption-based system.
SUBCOMMITTEE: Select Revenue Measures
