President's Advisory Panel on Federal Tax Reform

This executive order creates a nine-member presidential advisory panel tasked with developing revenue-neutral federal tax reform options for submission to the Treasury Secretary by July 31, 2005. The panel is designed to expire 30 days after submitting its report, making it a temporary, time-bound advisory body focused on simplifying the tax code while maintaining progressivity and promoting economic growth.

Federal Register Open PDF 70 FR 2323

Impact dates

Date TBD
Advisory Panel terminates
Jul 31, 2005
Advisory Panel report due to Secretary of the Treasury

Key directives

Establish President's Advisory Panel on Federal Tax Reform
Panel to submit revenue-neutral tax reform report to Treasury Secretary by July 31, 2005
At least one option must use Federal income tax as base
Panel to terminate 30 days after report submission
Treasury to provide administrative support and funding
Executive agencies to provide assistance and information as needed

Who is ordered

Timeline

Immediate

Advisory Panel established within Treasury Department
President to appoint up to 9 members and designate Chair/Vice Chair
Treasury to provide administrative support and funding

Near term (90d)

Panel to convene meetings across the United States
Public hearings to be held
Collection of input from diverse stakeholders

Long term

Panel terminates 30 days after report submission
No permanent institutional change; recommendations non-binding

Risks & tensions

Tight 7-month timeline from establishment to report may limit depth of analysis
Revenue-neutral constraint may restrict scope of politically viable reforms
Advisory status means recommendations are non-binding with no guarantee of legislative action
Progressivity requirement (3(b)) may conflict with economic growth objectives (3(c)) in practice
Vague 'as soon as practicable' language in Section 5 creates tension with hard July 31 deadline