Reforming the Federal Tax Policy Process
HILL BRIEFINGFriday, December 6, 2002
12:00 p.m.
Featuring David Burton, Principal Argus Group; Chris Edwards, Director of Fiscal Policy Studies, Cato Institute; and William Beach, Director, Center for Data Analysis, Heritage Foundation.
2168 Rayburn House Office Building
When the government considers raising or cutting taxes, the Joint Committee on Taxation and the U.S. Treasury estimate expected changes to revenues and the distribution of the tax burden. Since those estimates are crucial to tax policy decisions, lawmakers should receive the most accurate and complete assessment of their likely effects. Unfortunately, there are major shortcomings in the current tax policy process, as revealed by David Burton in a new Cato Institute study. Burton, Beach, and Edwards will discuss current procedures and suggest reforms to increase the accuracy of estimates and improve the transparency and accountability of the process. In particular, they will discuss the "dynamic scoring" of tax proposals, an important reform that is currently being investigated by a congressionally appointed blue-ribbon panel.