In response to Senate Finance Committee Chairman Orrin Hatch’s (R-Utah) call for input and feedback from tax stakeholders across the country on how to improve the American tax system through tax reform, The Tax Alliance for Economic Mobility submitted the following letter to the Finance Committee that focuses on reform that outs low and moderate income people first, and fuels upward economic mobility instead of exacerbating an already-growing wealth divide.
The letter hones in on four sets of principles for reform of tax-based aid that can lead to more equitable programs that will expand opportunity throughout the country:
- Increasing Financial Security for Working Families;
- Making Higher Education Tax Expenditures Work for Everyone;
- Using the Tax Code to Encourage Savings and Investment for Retirement
- Reduce Subsidies for Mortagage Debt and Larger Homes Owned by High-Income Households