Today, the House Ways and Means Tax Policy Subcommittee held a hearing titled “Perspectives on the Need for Tax Reform.”  In his opening statement, House Ways and Means Tax Policy Subcommittee Chairman Charles Boustany (R-LA) said that tax reform is needed because “American companies are getting acquired by foreign companies, new business startups are lagging, companies can’t expand as rapidly as they should, and capital investment is restrained.”  Chairman Boustany also stated that the need for tax reform is “evident in the mind-numbing complexity of the tax code and the enormous compliance burdens it imposes on families and businesses in this country.”  In his opening statement, Ranking Member Richard Neal (D-MA) expressed concern about the “feedback loop” of the tax reform debate, stating that, “We practically know what [the witnesses] are going to say before they say it.”  He also stated that “[g]oing forward, we must hear from the American public.  We should hear from middle-class families, who can talk to the need for expanding the child tax credit, or from working individuals that should qualify for the EITC, but do not.”

Several witnesses also made statements, which can be found below:

  • Dr. Douglas Holtz-Eakin
    President, American Action Forum
  • Dr. J.D. Foster
    Vice President, Economic Policy Division; Deputy Chief Economist, US Chamber of Commerce
  • Mr. Scott Hodge
    President, Tax Foundation
  • Dr. Martin Sullivan
    Chief Economist, Tax Analysts