To ensure America's tax policies help the nation's economy remain the most prosperous in the world, the President has proposed:

• Reforming the tax code, as the President believes that America's taxpayers deserve, and our future economic prosperity demands, a simpler, fairer, more pro-growth system. Taxes should be applied fairly, and reform should recognize the importance of homeownership and charity in our American society. As a first step in reforming the code, the President has created a bipartisan panel to advise the Secretary of the Treasury on options to reform the tax code.
• Restraining spending by the Federal Government.
• Making his tax cuts permanent, both for individuals and for small businesses; all the tax relief enacted over the past four years, including the tax relief benefiting America's small businesses, is scheduled to expire over the next several years. Raising taxes on small businesses will hurt economic growth and job creation.