The Congressional Research Service (CRS) has released a new report by Jane Gravelle and Thomas Hungerford called “The Challenge of Individual Income Tax Reform: An Economic Analysis of Tax Base Broadening.” In a nutshell, the report could be called “Base Broadening Is Hard to Do.”
The Washington Post’s Lori Montgomery summarized it nicely on Friday, including this Republican staffer’s sarcastic reaction to the report:
“Reports suggesting tax reform isn’t easy are greatly appreciated. We look forward to future reports on water being wet,” said Sage Eastman, a senior aide to House Ways and Means Committee Chairman Dave Camp (R-Mich.), whose panel drafted the principles for tax reform laid out in the Ryan budget.
The CRS report emphasizes that although the 200-plus tax expenditures for individuals under the federal income tax are worth more than $1 trillion per year, the largest 20 of them...