Washington, D.C. – The following is a statement by former Senator Pete V. Domenici and Dr. Alice Rivlin, co-chairs of the Bipartisan Policy Center’s Debt Reduction Task Force, on the enactment of The American Taxpayer Relief Act of 2012:
“The enactment of The American Taxpayer Relief Act of 2012 was a minimal first step to avoid what would have been a disastrous blow to an improving but struggling national economy. While imperfect and limited in scope, it nonetheless was the necessary step to achieving longer term, fundamental reforms of our tax code and entitlement programs.
“The stage is now set for the new Congress to enact a more efficient, transparent, pro-growth federal tax system. Along with significant structural changes to Medicare, federal health care, and other government spending programs, the opportunity to place the country on a sustainable fiscal path for future generations has now been provided.
“We at the Bipartisan Policy Center have and will continue to develop policies that reform our tax and spending programs. We encourage the president and the 113th Congress to use the upcoming and critical debate on our statutory borrowing limit and new March 1 sequester deadline to achieve these necessary reforms.”