By Vicki Needham - 06/25/10 05:34 PM EDT
The report could include a VAT as an option. Volcker has suggested its consideration several times but has said he doubted it would be done in conjunction with the income tax.
President Barack ObamaBarack ObamaWebb: After the debate Why not Gary Johnson? Donald Trump, the Russian candidate MORE has said he won't consider any ideas that would increase taxes on families making less than $250,000, in line with his pledge during the election.
The panel, which includes a range of academics and economic experts, was formed February 2009 and was expected to produce a report by the end of 2009. But Volcker put that on hold indefinitely as the panel continued discussions through this year.
During that time, the president also created a bipartisan fiscal commission to more closely examine the nation's debt issues. A report is expected from that group in December.