On Thursday, April 10th, the Tax Foundation, University of North Carolina Tax Center, and Massachusetts Institute of Technology Sloan School of Management are hosting a joint conference to discuss New Directions in Tax Policy: Budgetary and Other Challenges of an Increasingly Complex Tax Code.
This timely conference will provide members of Congress, the business community, and the American public with timely information regarding the challenges that Congress creates for itself when proposing policies with uncertain economic and budgetary impacts. With current debt and deficit levels, Congress should avoid policies that risk major costs. Recent history has shown that lawmakers have leaned into expensive policies, including major expansions of the child tax credit and renewable energy credits, without fully understanding long-run impacts. Additionally, lawmakers have implemented new business taxes, such as the corporate alternative minimum tax, that involve complex interactions between accounting and tax rules, introducing new challenges and uncertainties both for taxpayers and budget scorekeepers.
