Politics

Obama wants to debate overhaul of tax code

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President Obama is interested in exploring a broad overhaul of the tax code along the lines recommended by the chairmen of his debt commission.

In an interview broadcast Friday on NPR, Obama said he was not endorsing the commission’s plan, which would lower individual and corporate tax rates while eliminating $1 trillion in annual tax breaks. But he said he wants to start a bipartisan conversation on the idea next year.

“The idea is simplifying the system, hopefully lowering rates, broadening the base — that’s something that I think most economists think would help us propel economic growth. But it’s a very complicated conversation,” Obama said.

Full Story: Obama wants to debate overhaul of tax code – The Hill’s On The Money

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Chad Brady (admin)