tax reform efforts

Tax reform efforts involve changes to the tax code aimed at making the system more efficient, equitable, and straightforward. These initiatives may reduce or simplify taxes for individuals and businesses, eliminate loopholes, or adjust rates to promote economic growth. Policymakers seek reforms to balance generating government revenue with supporting overall economic health, often weighing the benefits of increased compliance and fairness against potential revenue impacts. The goal is to create a tax system that encourages investment and innovation while ensuring everyone pays their fair share.