For Immediate Release:June 9, 2004
Contact:By Steven Pearlstein
Washington Post
If Republicans really want to honor the memory of Ronald Reagan, they should toss in the trash the corporate tax legislation making its way through Congress.
One of Reagan's greatest achievements was passage, with bipartisan support, of the 1986 Tax Reform Act. The goal of the landmark bill was to make the tax code simpler and fairer while boosting economic efficiency. Loopholes were closed, tax rates were reduced, and all sorts of distinctions were eliminated so that individuals and companies with the same income or profits were required to pay roughly the same tax.