FEDERALhearing transcript

House Subcommittee Hearing on Tax Reform Needs

Original title: PERSPECTIVES ON THE NEED FOR TAX REFORM

January 1, 2017

tax reform economic growth corporate tax rates tax code complexity GDP

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The Frame

What this does

This hearing served as a formal legislative step to build the case for future changes to federal tax laws, which could ultimately alter tax rates and filing requirements for all American families and businesses.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

American taxpayers

Taxpayers are subject to the compliance costs and tax rates discussed in the hearing.

U.S. businesses

Businesses are subject to corporate tax rates and international tax rules that the subcommittee is evaluating for reform.

What changed

Last recorded activity January 1, 2017.

What's next

Next step not available in the current record.

Summary

The House Subcommittee on Tax Policy held a hearing on May 25, 2016, to discuss the economic arguments for reforming the U.S. tax system. Lawmakers and expert witnesses examined how current tax laws impact economic growth, business competitiveness, and the administrative burden on taxpayers.

Key Facts

The hearing took place on May 25, 2016, in the Longworth House Office Building.
Real GDP growth since 2009 has averaged 1.8 percent, compared to a 3.5 percent pre-recession average.
The Congressional Budget Office (CBO) projects future potential economic growth at 2 percent.
The U.S. currently maintains one of the highest corporate tax rates among industrialized nations.
The U.S. Tax Code contains approximately 2.4 million words.
Tax regulations contain roughly 7.7 million words.
Taxpayers spend over $31 billion annually on tax preparation software and professional services.

Frequently Asked Questions

What was the purpose of this hearing?

The subcommittee met to gather expert testimony on why the current tax system is considered outdated and how it affects economic growth and business competitiveness.

Did this hearing change tax laws?

No. This was a hearing to gather information and perspectives; it did not result in the passage of new tax legislation.

Why It Matters

News Coverage

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Focus on Compliance Costs

The committee placed significant emphasis on the $31 billion annual cost of tax compliance as a primary driver for reform, rather than just tax rates.

Subcommittee on Tax Policy

Connected Entities

organizationSubcommittee on Tax Policy“Subcommittee of the House Committee on Ways and Means”Map →

personCharles Boustany“Chairman of the Subcommittee on Tax Policy”Map →

personMartin Sullivan“Chief Economist, Tax Analysts”Map →

personJ.D. Foster“Vice President, U.S. Chamber of Commerce”Map →

personScott Hodge“President, Tax Foundation”Map →

personDouglas Holtz-Eakin“President, American Action Forum”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance60
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz15
Current news / social attention level

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