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Tax reform should focus on raising sufficient revenue. It should make the tax system more equitable and efficient. Reforms should: 

Reforming business taxes, such as corporate tax or a tax on the financial industry, should be considered in any effort to raise additional revenue. 

Policymakers should not tax the actuarial value of Medicare or the value of other in-kind benefits (see also

Limitations can be set on the exclusions for other employer-provided benefits such as life insurance, tuition, and parking.

Eligibility for the exclusion for employer-provided health insurance should be determined based on the employer's coverage rules. 

Lawmakers should maintain the tax-deferred status of employer-provided pensions as a critical way of promoting retirement savings. 

The threshold for the medical expense deduction should be kept as low as possible.

Congress and the states should extend the EITC to workers with low incomes who have no dependents regardless of age, including those ages 65 and older, provided they are not dependents themselves.

States and localities should carefully evaluate the effectiveness of the incentives they offer to attract or retain businesses. 

Policymakers should retain estate and inheritance taxes as important components of our tax structure.