Economists press for corporate tax reform

Kevin Hassett of the American Enterprise Institute, an economic adviser to Mitt Romney’s presidential campaign, was among the signers of the letter.

The current corporate rate, the economists said, made it harder for the U.S. to attract private-sector investment, and distorted how companies acted.

Top officials on both sides of the aisle have expressed an interest in overhauling the tax code – but serious partisan differences remain, leaving some observers skeptical that tax reform can happen anytime soon.

Both the Obama administration and congressional Republicans have called for corporate tax reform.

But the two sides disagree over whether more revenues are needed for deficit reduction. Republicans and some Democrats have also shown more interest in reforming the individual code than the administration.

The RATE Coalition, a group of major companies looking for a tax rewrite that lowers corporate rates, released a statement backing the economists’ letter.