GOP chairman seeks tax reform recommendations

GOP chairman seeks tax reform recommendations
© Greg Nash

Senate Finance Committee Chairman Orrin HatchOrrin Grant HatchDemocrats urge colleagues to oppose prison reform bill The Hill's Morning Report — Sponsored by CVS Health — Trump’s love-hate relationship with the Senate Senate GOP anger over McCain insult grows MORE (R-Utah) is asking industry groups and other stakeholders for tax reform recommendations in an effort toward ensuring that lawmakers and the White House meet their objective of overhauling the tax code to boost the economy.

"With the support of the Trump Administration, the momentum for tax reform is at peak levels, and, as Chairman of the Senate Finance Committee, I am committed to doing all I can to make this effort a success," Hatch said in a letter Friday.

Hatch noted that lawmakers on both sides of the aisle have issues with the current tax code and think changes should be made.

ADVERTISEMENT
"Our chief goals in this effort should be to create a simpler and fairer system that is more conducive to sustained economic growth in the 21st Century global marketplace," Hatch said. "As we work to achieve those goals, it is essential that Congress has the best possible advice and insight from experts and stakeholders."  

Hatch said he is particularly interested in recommendations about how to provide tax relief to middle-class families, lower rates and broaden the tax base for businesses, remove obstacles to saving and investment and make the international tax system more competitive.

He also said that he wants recommendations to take into account the fiscal, economic and procedural constraints that will play a role in tax reform.

Stakeholders can submit comments by July 17 to taxreform2017@finance.senate.gov. Hatch is going to keep groups' comments confidential in order to guarantee commenters' privacy.

Hatch's letter is the latest effort from lawmakers and the White House to get feedback from industry groups on tax reform.

Trump administration officials have been holding listening sessions with business groups and companies, including those in the transportation industry. Additionally, the Blue Dog Coalition of centrist House Democrats sent its own letter to stakeholders on Thursday, asking them to provide their ideas as the coalition works to develop a set of tax-reform principles.