Last updated on: 9/3/2013 | Author: ProCon.org

National Commission on Fiscal Responsibility and Reform (Simpson-Bowles Commission) Biography

Position:
Pro to the question "Does Lowering the Federal Corporate Income Tax Rate Create Jobs?"
Reasoning:

“The corporate income tax, meanwhile, hurts America’s ability to compete. On the one hand, statutory rates in the U.S. are significantly higher than the average for industrialized countries (even as revenue collection is low), and our method of taxing foreign income is outside the norm. The U.S. is one of the only industrialized countries with a hybrid system of taxing active foreign-source income. The current system puts U.S. corporations at a competitive disadvantage against their foreign competitors… Tax reform should lower tax rates… and make America the best place to start a business and create jobs… The results of inaction are undesirable: the loss of American jobs.”

“The Moment of Truth,” fiscalcommission.gov, Dec. 2010

Theoretical Expertise Ranking:
Organizations/VIPs/Others
Individuals and organizations that do not fit into the other star categories.
Description:

“President Obama created the bipartisan National Commission on Fiscal Responsibility and Reform to address our nation’s fiscal challenges. The Commission is charged with identifying policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run…

The Commission will meet as a whole once a month while Congress is in session. The Commission will vote on a final report containing a set of recommendations to achieve its mission no later than December 1, 2010. The final report will require the approval of at least 14 of the Commission’s 18 members.”

“About the National Commission on Fiscal Responsibility and Reform,” fiscalcommission.gov (accessed July 2, 2013)

Mission:

“Specifically, the Commission shall propose recommendations designed to balance the budget, excluding interest payments on the debt, by 2015. In addition, the Commission shall propose recommendations that meaningfully improve the long-run fiscal outlook, including changes to address the growth of entitlement spending and the gap between the projected revenues and expenditures of the Federal Government.”

“About the National Commission on Fiscal Responsibility and Reform,” fiscalcommission.gov (accessed July 2, 2013)

Other:
Congressional commission
Contact Info:
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Quoted in:
Pro & Con Quotes: Does Lowering the Federal Corporate Income Tax Rate Create Jobs?