Tax Code Still Needs to be More Permanent, Simpler: Solomon

Tax reform has taken important steps in bringing the U.S. tax system in line with the rest of the world’s and thus increasing U.S. competitiveness, but failed to achieve the goals of making the tax system more permanent and less complicated, a former U.S. Treasury official said.

“Over the years there have been complaints that we have many parts of the U.S. tax code that expire, so one of the hopes of a tax bill would be not to include items that expire,” said Eric Solomon, co-director of national tax at EY, former assistant secretary of tax policy at the U.S. Treasury Department.

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