Topic: Tax reform in the United States
Presenter: Professor Jonathan Forman - Alfred P. Murrah Professor of Law, University of Oklahoma College of Law
Tax reform is high on the public policy agenda in Washington, D.C. - especially now as the United States teeters on the brink of a fiscal crisis. Because of the recent recession, an aging population, and overspending politicians, the United States has a current federal budget deficit of US$1.5 trillion (10% of gross domestic product), and it has a public debt equal to almost 70% of GDP. In order to get budget deficits back down to a tolerable 2 or 3% of GDP, many recent deficit reduction plans have included proposals to generate additional receipts by getting rid of tax expenditures or by adding a value-added tax or a tax on carbon-based fuels. Many policymakers would also like to reduce the maximum income tax rates on corporations and individuals from 35% to 25%. After a brief overview of the U.S. tax system and the federal budget outlook, Professor Forman will discuss the most recent tax reform proposals and their prospects for adoption.
All welcome, no RSVP required.
Contact: Beth Williams, ph: 07 334 69350, email: marketing@law.uq.edu.au
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