Statement from PERAB Chairman Paul Volcker on Tax Task Force

[ProSense]

On the PERAB Tax Task Force

Posted by Austan Goolsbee on November 27, 2009

Statement from PERAB Chairman Paul Volcker on Tax Task Force

The tax subcommittee of the PERAB was scheduled to release its report on December 4th. But we have received more than 500 submissions of serious tax reform ideas from the public both in person and on our website and we had to cut them off to meet the original deadline.

I want us to review as many suggestions as possible and to have sufficient time to fully consider the hundreds of suggestions that have come in already. I have asked the Administration to extend our deadline and to reopen the website for submissions so that we can hear the widest possible range of ideas.

We still have the same specific mandate: to discuss the pros and cons of a spectrum of reform ideas relating to tax simplification, enforcement of existing tax laws and reform the corporate tax system without considering policies that would raise taxes on families making less than $250,000.

The PERAB is not tasked with providing its own policy recommendations for the Administration and the final report will be an almanac of options from a broad range of viewpoints.

We will be reopening the web submission form and extending the deadline for any suggestions in keeping with our mandate (suggestions may also be submitted via email) and will be scheduling more public meetings over the coming weeks. We expect to report back to the Administration after the holidays.

[MannyGoldstein]

1. It's a Shame That Volcker's Been Marginalized

A very bright and successful manager of things financial - certainly far more successful than Summers and Geithner (who, between them, have never been right about anything if my memory serves me well).

Ant recommendations here will likely be tossed out once Goldman Sachs objects with some crap about it putting the worls economy in peril.

[Cha]

2. Thanks for Volcker's statement.

PS..and Good Luck with all their diligence.