February 16,2005

Statement of U.S. Senator Max Baucus Regarding the President’s Advisory Panel on Federal Tax Reform

(WASHINGTON, D.C.) Today, U.S. Senator Max Baucus, Ranking Member of the SenateFinance Committee, issued the following statement after the first meeting of the President’sAdvisory Panel on Federal Tax Reform.

“Today’s meeting of the President’s Advisory Panel on Federal Tax Reform is a step inthe right direction to simplify the tax code, as the panel can serve an important role in solicitingideas and building public support for simplification. However, this panel will face enormouschallenges as they move ahead. A major change from our current progressive income tax toanother type of tax involves significant complexities and difficulties, not to mention theconstraints this panel must work under, including revenue neutrality and the carving out of a fewspecific tax benefits. We need to work together to find significant and meaningful simplificationof our current system. This is an achievable goal. As the panel begins its work, above all, I hopethey will search for options that will not shift any more of the tax burden onto the backs ofworking families.”