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Friday, August 27, 2010 - 2:00AM

The President’s Economic Recovery Advisory Board (PERAB) today voted unanimously to present the tax reform subcommittee’s “Report on Tax Reform Options: Simplification, Compliance and Corporate Taxation,” to President Barack Obama. The report discusses the pros and cons of a spectrum of reform ideas relating to tax reform, without taking a position on those ideas. There are a number of proposals included in the report, including a discussion of reducing or eliminating tax expenditures. In the tax expenditure discussion, the tax reform subcommittee specifically addresses the low-income housing tax credit. It is important to note that presenting the report to the President does not mean the PERAB supports any of the proposals included in the document.
To hear this report discussed in detail, tune in to the Tax Credit Tuesday podcast on August 31.
The range of proposals being considered related to tax expenditures are discussed in the Washington Wire in the September issue of the Novogradac Journal of Tax Credits, which will be available for download next week.

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