Bernanke: Tax codes should be reformed together

A push for tax reform seems to be gaining some steam on Capitol Hill, as lawmakers on both sides of the aisle have endorsed looking at making changes to the tax code. 

But The Wall Street Journal reported this week that, while both the White House and congressional Republicans seem to believe that the corporate tax code needs changing, trying to tackle the code for individuals could complicate the discussion over reform. 

As for Bernanke, he also said Friday that he hoped Congress would take a look at tax reform, after telling CBS’s “60 Minutes” late last year that he thought the current code was inefficient.

“I hope that the Congress will think hard about what long-run tax structure will be most beneficial, and lowering rates and closing loopholes is, I think, the best approach,” Bernanke told the Budget panel.