PUTNAM COMMITTEE LOOKS AT REVAMPING TAX SYSTEM

Lakeland Ledger political writer Bill Rufty mentions in his column today that Congressman Adam Putnam (R - Bartow) opened hearings last week into what he called a long, thorough study into the federal tax system.

Putnam is a bit of a policy wonk who likes to get into the nitty gritty of a subject, and these hearings are just right down his alley as chairman of the House Republican Policy Committee.

He reportedly held the hearing in a panel discussion style, and heard from people with a variety of views on how to revamp how the federal government collects the money it runs on.

Former U.S. Senator Connie Mack (R - FL) co-chairs the President's Advisory Panel on Federal Tax Reform, and spoke of his group's goals to simplify and streamline tax filing along with lowering individual and business tax rates.

There were several congressional collegues present to discuss their ideas for revamping the tax system, mainly through some sort of a flat tax. Congressman Michael Burgess (R - TX) was among those who went that route talking about his "Freedom Flat Tax Act" (HR 1040). Congressman Robert Goodlatte (R - VA) spoke of his Tax Code Termination Act (HR 4725), which would abolish the Internal Revenue Code by the end of 2009 and require Congress to approve a new tax system by the end of July, 2009. Congressman John Linder (R - GA), addressed a proposal on a 23 percent flat federal sales tax on the final sale of goods and services.

We'll see where this goes...