With April 15 just around the corner, PPI and Moment of Truth, and a bipartisan cast of U.S. Senators, are joining forces to call for the most sweeping overhaul of federal taxes since 1986.
Moment of Truth was formed by Fiscal Commission co-chairs Erskine Bowles and Sen. Alan Simpson to build momentum behind the commission’s deficit reduction plan. At the heart of that plan is the “modified zero plan,” which would eliminate or scale back tax expenditures, and use the savings to cut individual and corporate tax rates, as well as budget deficits.
In addition to Sen. Michael Bennet (D-Colo.), a leading voice for restoring fiscal responsibility in Washington, Sens. Ron Wyden (D-Ore.) and Daniel Coats (R-Ind.) will be on hand to discuss their new bill, which would also close tax loopholes to finance lower rates and deficits.
Both approaches embrace the “broaden the tax base, bring down tax rates” logic of the last great tax reform in 1986. PPI also will release a new report by Paul Weinstein, a key architect of the “modified zero plan,” on how the plan sparked a bipartisan breakthrough on the commission, and on how the plan could be further refined and strengthened.
The April 12 forum, to be held at Johns Hopkins University’s Washington campus, will also feature prominent budget and tax experts. Click here to see the whole program and RSVP.
