Wyden Statement on White House Fiscal Commission’s Draft Report
Washington, D.C. – U.S. Senator Ron Wyden (D-Ore.) released the following statement regarding the draft report released today by the chairmen of the White House Fiscal Commission:
“The Fiscal Commission demonstrates what Senator Gregg and I have spent the last year saying: By eliminating what amounts to tax earmarks for special interests, it is possible to simplify the tax code, promote economic growth and cut taxes for the vast majority of American families and businesses. Obviously, what the Fiscal Commission terms “Wyden-Gregg style reform” does not, in some respects, go as far as Wyden-Gregg does in simplifying filing for individuals and families and scaling back the corporate rate. While in other respects, it goes too far. For example, Senator Gregg and I considered limits on mortgage and charitable deductions too politically controversial to include in our legislation. But what I hope people will take away from the Fiscal Commission’s report is the fact that, when it comes to taxes, Congress needs to do more than simply vote on an extension of the Bush Tax Cuts. Extending a broken tax system will do nothing more than extend the current economic stagnation. If my colleagues are serious about creating jobs and growing the economy while addressing the nation’s fiscal health we need to get serious about comprehensive tax reform.”
For more information on the “Bipartisan Tax Fairness and Simplification act of 2010, also known as Wyden-Gregg visit: http://wyden.senate.gov and http://gregg.senate.gov.
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