President's Advisory Panel on Federal Tax Reform
Headline: Establishes Advisory Panel to Recommend Revenue-Neutral Tax Reforms
What it does: The order directs the Treasury to host and support an advisory panel that will develop revenue-neutral tax reform options and submit a report by July 31, 2005.
- Creates a temporary panel to propose revenue-neutral tax reform options.
- Requires federal departments to provide staff and information to support the panel.
- Panel must deliver a public report to the Treasury by July 31, 2005.
Summary
This order creates a temporary advisory panel to develop revenue-neutral options for reforming the Federal Internal Revenue Code.
The panel will have up to nine presidential appointees, a chair and vice chair, and an Executive Director selected by the President; the Treasury Department will provide administrative support and funding as allowed by law.
The panel must submit its report to the Secretary of the Treasury by July 31, 2005; its recommendations aim to simplify taxes, fairly share tax burdens, and promote long-term economic growth.
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