PERAB Blog

  • Formal Announcement of December 4, 2009 Public Meeting

    DEPARTMENT OF THE TREASURY
    Open Meeting of the President’s Economic Recovery Advisory Board (the PERAB)
     
    AGENCY: Departmental Offices
     
    ACTION:  Notice of Open Meeting.
     
    SUMMARY:  The President’s Economic Recovery Advisory Board will meet on December 4, 2009 via conference call beginning at 3:00 p.m. Eastern Time.  The meeting will be open to the public via live audio stream at http://www.whitehouse.gov/live.
     
    DATES: The meeting will be held on December 4, 2009 at 3:00 p.m. Eastern Time.
     
    ADDRESSES: The PERAB will convene its next meeting via conference call.  The public is invited to submit written statements to the Advisory Committee by any of the following methods:
     
    - Electronic Statements:  Send written statements to the PERAB’s electronic mailbox at PERAB@do.treas.gov; or
     
    - Paper Statements:  Send paper statements in triplicate to Emanuel Pleitez, Designated Federal Officer, President’s Economic Recovery Advisory Board, Office of the Under Secretary for Domestic Finance, Room 1325A, Department of the Treasury, 1500 Pennsylvania Avenue, NW, Washington, DC 20220.
     
    In general, all statements will be posted on the White House website (http://www.whitehouse.gov) without change, including any business or personal information provided such as names, addresses, e-mail addresses, or telephone numbers.  The Department will also make such statements available for public inspection and copying in the Department’s Library, Room 1428, Main Department Building, 1500 Pennsylvania Avenue, NW, Washington, DC 20220, on official business days between the hours of 10:00 a.m. and 5:00 p.m. Eastern Time.  You can make an appointment to inspect statements by telephoning (202) 622-0990.  All statements, including attachments and other supporting materials, received are part of the public record and subject to public disclosure.  You should submit only information that you wish to make available publicly.
     
    FOR FURTHER INFORMATION CONTACT: Emanuel Pleitez, Designated Federal Officer, President’s Economic Recovery Advisory Board, Office of the Under Secretary for Domestic Finance, Department of the Treasury, Main Department Building, 1500 Pennsylvania Avenue, NW, Washington, DC 20220, at (202) 622-2000.
     
    SUPPLEMENTARY INFORMATION:  In accordance with Section 10(a) of the Federal Advisory Committee Act, 5 U.S.C. App. II, §10(a), and the regulations thereunder, Emanuel Pleitez, Designated Federal Officer of the Advisory Board, has ordered publication of this notice that the PERAB will convene its next meeting on December 4, 2009 via conference call beginning at 3:00 p.m. Eastern Time.  The meeting will be broadcast on the internet via live audio stream at http://www.whitehouse.gov/live.  The purpose of this meeting is to continue discussion of the issues impacting the strength and competitiveness of the Nation’s economy.  The discussion will include administrative matters and an update on the research and preparatory work conducted in the PERAB subcommittees.  The PERAB will deliberate on the work of the subcommittees and provide information and ideas obtained from across the country to promote the growth of the American economy, establish a stable and sound financial and banking system, create jobs, and improve the long-term prosperity of the American people.  In addition, the PERAB will vote on presenting formal advice and recommendations to the President. 
     
    Dated: 11/13/09
     
    Andrew Mayock
    Executive Secretary
     
    Public Submissions
    Link to table for Tax Reform Ideas Submitted by public:
    http://www.whitehouse.gov/blog/Tax-Reform-Subcommittee-Requests-Ideas

  • On the PERAB Tax Task Force

    The President's Economic Recovery Advisory Board released the following statement today:

    Statement from PERAB Chairman Paul Volcker on Tax Task Force

    The tax subcommittee of the PERAB was scheduled to release its report on December 4th. But we have received more than 500 submissions of serious tax reform ideas from the public both in person and on our website and we had to cut them off to meet the original deadline.

    I want us to review as many suggestions as possible and to have sufficient time to fully consider the hundreds of suggestions that have come in already. I have asked the Administration to extend our deadline and to reopen the website for submissions so that we can hear the widest possible range of ideas.

    We still have the same specific mandate: to discuss the pros and cons of a spectrum of reform ideas relating to tax simplification, enforcement of existing tax laws and reform the corporate tax system without considering policies that would raise taxes on families making less than $250,000.

    The PERAB is not tasked with providing its own policy recommendations for the Administration and the final report will be an almanac of options from a broad range of viewpoints.

    We will be reopening the web submission form and extending the deadline for any suggestions in keeping with our mandate (suggestions may also be submitted via email) and will be scheduling more public meetings over the coming weeks. We expect to report back to the Administration after the holidays.

  • Streaming Now: PERAB Meeting with the President

    Starting at 11:10am, the President's Economic Recovery Advisory Board (PERAB) will hold a meeting with the President to discuss long-term, innovation based ideas to sustain growth and continue to create jobs of the future.  Watch the meeting live at Whitehouse.gov/Live.

    [UPDATE: This event has now concluded. Watch the video below or read the transcript.]

  • President’s Economic Recovery Advisory Board Public Meeting

    [Ed. Note: Due to scheduling conflicts, the PERAB will begin its Monday, November 2nd public meeting at 11:00 a.m. Eastern Time instead of 10:00 a.m. This blog post has been modified to reflect that change.]

    The President’s Economic Recovery Advisory Board will hold its next public meeting on November 2, 2009, in the White House Roosevelt Room beginning at 11:00 a.m. Eastern Time.  The meeting will be open to the public via live webcast at http://www.whitehouse.gov/live.

    The purpose of this meeting is to continue discussion of the issues impacting the strength and competitiveness of the Nation’s economy.  The discussion will include an update on the research and preparatory work conducted in the PERAB subcommittees.  The PERAB will provide information and ideas obtained from across the country to promote the growth of the American economy, establish a stable and sound financial and banking system, create jobs, and improve the long-term prosperity of the American people.

    The public is invited to submit written statements to the Advisory Committee by any of the following methods:

    • Send written statements to the PERAB’s electronic mailbox at PERAB@do.treas.gov; or
    • Send paper statements in triplicate to Emanuel Pleitez, Designated Federal Officer, President’s Economic Recovery Advisory Board, Office of the Under Secretary for Domestic Finance, Room 1325A, Department of the Treasury, 1500 Pennsylvania Avenue, NW, Washington, DC 20220

    In general, all statements will be posted on the White House website (http://www.whitehouse.gov) without change, including any business or personal information provided such as names, addresses, e-mail addresses, or telephone numbers.  The Department of the Treasury will also make such statements available for public inspection and copying in the Department’s Library, Room 1428, Main Department Building, 1500 Pennsylvania Avenue, NW, Washington, DC 20220, on official business days between the hours of 10:00 a.m. and 5:00 p.m. Eastern Time.  You can make an appointment to inspect statements by telephoning (202) 622-0990.  All statements, including attachments and other supporting materials, received are part of the public record and subject to public disclosure.  You should submit only information that you wish to make available publicly.

    You also view the memo and minutes following the May 20 meeting.

  • Streaming at 12:30: PERAB Meeting on Tax Reform

    Today, the tax subgroup of the President's Economic Recovery Advisory Board (PERAB) will hold a meeting to gather ideas on tax reform.  It will be the first of several such meetings.  The meeting will center on tax simplification and will be live streamed at www.whitehouse.gov/live.
    I wanted to take the opportunity to explain why we assembled this subgroup, what areas the PERAB tax reform subgroup will focus on and what it has been tasked to produce.
    Tax reform is important to the President and a priority for many members of Congress. As the President said when he announced his international tax proposals in May, "It's a down payment on the larger tax reform we need to make our tax system simpler and fairer and more efficient for individuals and corporations."
    The Administration wanted a report on options for tax reform from an outside group so they asked the PERAB to take on the role. The PERAB is comprised of industry and labor representatives, and academic experts and is chaired by Paul Volcker.  It is made up of voices from outside the government.  The tax subgroup's focus is on gathering as many ideas and options as possible and identifying the pros and cons of each option in three specific areas:
    • Tax code simplification
    • Enforcement
    • Corporate tax reform
    The materials gathered and compiled by the tax group will be presented to the full PERAB board and discussed at a future PERAB meeting.  The final report that the board puts forward in December will not be a recommendation of a specific direction in tax policy.  It will present a view of the pros and cons of different options.  It will be an important step in the process of studying the many ways we can reform and improve our tax code.
    It will not  represent the view of the administration.  The PERAB is an advisory group representing a wide range of viewpoints from outside the administration and we expect the options it presents to represent a range of views and opinions on tax reform. 
    Everyone knows that tax reform is a complicated undertaking. In preparation for this series of public meetings, the members of the tax subgroup have spent the last several months familiarizing themselves with the options already out there, through individual conversations with experts from academia and the tax field, members of Congress and members of the Administration.
    The PERAB and the administration both want the public to provide their insight, ideas and comments to help educate the group and they invite anyone to visit the webpage and submit their own ideas or comment on other proposals. We will also post the tax presentations made by the attendees following the meeting.
    I look forward to providing updates on future meetings and seeing the work on various tax reform options that comes out of the PERAB in December.

    UPDATE: This event has now concluded but you can watch the full video of the meeting below:

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    Austan Goolsbee is a member of the President's Economic Recovery Advisory Board and the Council of Economic Advisers

  • Tax Reform Subcommittee Requests Ideas

    President Obama has asked the President's Economic Recovery Advisory Board (PERAB) to develop options for tax reform. The members of the tax subcommittee are preparing ideas to be considered by the board and would like to give anyone a chance to have input into the process on this important issue. Anyone wanting to share ideas and opinions for consideration by the subcommittee can do so here. The deadline for submissions is October 15th, 2009.
    Note: The mandate to the PERAB is NOT to recommend a new tax system. They are to consider ideas on tax simplification, better enforcement of tax law, and reforming corporate taxes and to present the pros and cons of potential tax options. They were instructed not to consider options that involve raising taxes on families making less than $250,000 per year. So be mindful of their constraints when submitting ideas.
    In general, the tax subcommittee will post all comments online for others to examine and those suggestions may spur other people's ideas. All statements, including attachments and other supporting materials, received are part of the public record and subject to public disclosure. You should submit only information that you wish to make available publicly. Please do not submit materials exceeding five single-spaced pages of text. If submitting via e-mail, please send to perab@do.treas.gov. Please also include a cover sheet including the submitter's name and organization, type of organization (individual, business, government, non-profit organization, or association), submission date, and contact information.
    Thank you for your help.

    UPDATE: View comments submitted by the public below: