Obama Plans to Name Task Force to Overhaul Tax Code (Update1) - Bloomberg.com: "Obama will ask the Economic Recovery Advisory Board, led by former Federal Reserve Board Chairman Paul Volcker, for a top- to-bottom review of the 96-year-old law in an effort to “rebalance the federal tax code,” spokesman Tom Gavin said in an interview.
“The goal is a tax system that works better for the American people,” Gavin said. “The president’s going to ask the board that they find ways to simplify the tax code, protect progressivity in the revenue base, close tax loopholes and find ways to reduce tax evasion and that they reduce corporate welfare.”"
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