Cutting rates isn’t enough
The Republican party gained control of the federal government in the 2016 election, with tax reform as one of its central policy issues. Now elected Republicans have a choice: Will they be mere tax cutters, or will they be tax reformers?
The distinction is important. A tax cut retains the framework of the current tax system but lowers rates. A tax reform is a bolder, more comprehensive change to the structure of taxes. Tax reform addresses the question of what we should tax, not just the question of how much we should tax it.