The tax subcommittee of the Presidents Economic Recovery Advisory Board has decided to postpone its report outlining tax reform plans for the White House after being inundated with suggestions.
The tax subcommittee of the PERAB was scheduled to release its report on December 4th. But we have received more than 500 submissions of serious tax reform ideas from the public, both in person and on our website, and we had to cut them off to meet the original deadline, said a statement by PERAB chairman Paul Volcker, a former chairman of the Federal Reserve, posted on the
Volcker added that the panel still has the same mandate: to discuss the pros and cons of a spectrum of reform ideas relating to tax simplification, enforcement of existing tax laws and reform of the corporate tax system without considering policies that would raise taxes on families making less than $250,000.
The PERAB is not tasked with providing its own policy recommendations for the Obama administration, Volcker added, and the final report will be "an almanac of options from a broad range of viewpoints."
The subcommittee will be reopening the