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With a Tax Cut in Place, the Next Step Is Major Tax Reform

Featuring R. Glenn Hubbard, Chairman, Council of Economic Advisers.

The Cato Institute
1000 Massachusetts Avenue, NW
Washington, DC 20001

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Read the event transcript (PDF, 37 pp, 72 kb)

This year's tax bill reduces income tax rates, repeals the estate tax, and modestly liberalizes the tax treatment of retirement savings plans. But major tax reform, which would replace the complex income tax with a simpler, consumption-based tax, awaits further action.

Dr. R. Glenn Hubbard will discuss the need for major tax reform, the steps required to move the current system toward a consumption-based tax, and reform options that are being considered by the Bush administration.

Before taking his current position as chairman of the Council of Economic Advisers, Hubbard was the Russell L. Carson Professor of Economics and Finance at Columbia University. He has been director of the Tax Policy Program at the American Enterprise Institute, and was deputy assistant secretary (tax analysis) at the U.S. Department of the Treasury from 1991 to 1993.