Tax reform has taken center stage in Washington, DC, with policymakers on both sides of the aisle wrestling with a range of priorities, from individual income tax rates to corporate taxes; tax expenditures directed at home ownership, state and local deductions, and charitable giving; the estate tax; and more. If tax reform is, indeed, a once in a lifetime opportunity, is it possible to simplify the tax code, boost the middle class, and spur business innovation in one core package? And is there opportunity for a tax reform effort that receives bi-partisan support?
The Becker Friedman Institute for Economics at the University of Chicago (BFI), in partnership with the Union League Club of Chicago’s Public Affairs Committee, hosted an evening of cocktails and conversation discussion to explore these issues. Focusing on the opportunities for a tax reform effort to promote broad-based economic growth, former Council of Economic Advisers Chairmen Austan Goolsbee (President Obama) and Edward Lazear (President George W. Bush), both experts on tax policy, shared their views on the politics and policies influencing tax reform.