The Organization for Economic Cooperation and Development’s (OECD) chimes in on US tax reform. OECD’s Secretary-General Angel Gurría presented the latest economic survey of the United States which identifies some tax-based reforms required to boost US economic growth.
In addition, there are some key recommendations has been noted in the report regarding followings decisions. These measures can be taken to boost long-term growth and improve the efficacy of the United States’ tax policies.
- Reduce the marginal corporate income statutory tax rate and extend its base, notably by phasing out tax expenditures;
- Lead international efforts to reach an agreement on Base Erosion and Profit Shifting (BEPS); and
- Make the personal tax system more re-distributive by restricting regressive income tax expenditures.
