Statements and Speeches
Hearing Statement: Tax Complexity, Compliance, and Administration: The Merits of Simplification in Tax Reform
Mar 10 2015
WASHINGTON – Today, Sen. Tom Carper (D-Del.), a member of the Senate Finance Committee, released the following statement regarding the Senate Finance Committee hearing on "Tax Complexity, Compliance, and Administration: The Merits of Simplification in Tax Reform."
"I want to thank Chairman Hatch and Ranking Member Wyden for calling this important hearing today on this issue that is long overdue for action.
"Both the corporate and individual tax codes are in dire need of major overhaul. Both are riddled with inefficient loopholes and tax expenditures. Both are far too complicated and provide too many opportunities for some taxpayers to 'game the system' to avoid paying taxes. And both impose tax rates that are too high when compared to our international competitors.
"Simplifying our tax code would make it easier to enforce, consequently increasing tax revenues while bringing down the cost of enforcement and ultimately the deficit. Each year, America loses hundreds of billions in tax revenue that could be invested growing our economy and reducing the tax burden on hard-working Americans who do fully comply with the law.
"I have been a proud champion of legislation to close this tax gap in past Congresses and I plan to introduce a new bill in this Congress that would improve compliance and streamline the standards we use to administer our tax laws.
"However, what's needed more than anything is legislation that gets at the root cause of the problem. We need to make the smart investments in the agencies charged with enforcing the code and at the same time make the code easier to enforce and harder to game."