While the spending side of the House Republican budget plan is getting most of the media attention, the revenue portion of the plan deserves just as much attention for what it achieves—the resumption of a healthy debate over just what tax reform should entail.
The broad strokes of what major tax reform would entail are becoming clear, and the Ryan tax plan is a manifestation—and advancement—of that consensus. Lower, flatter rates on both individuals and businesses, a virtual elimination of deductions, and a commitment to arrive at a level of revenue that’s sufficient to fund the government we have are things that honest people in both parties can agree would drastically improve the mess of a tax code currently in place.
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