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Instead of limiting ourselves to a replay of 20th Century tax reform debates, Congress should be completely rethinking the tax code.

A 21st Century tax reform focused on investment, innovation, and job creation is only possible if we agree that tax reform today must be more ambitious than lowering corporate rates, which would impact only a small fraction of businesses in America. As a member of the committee responsible for tax reform, I have produced a plan that would help restore American prosperity by eliminating all loopholes, establishing a single fair tax rate for all businesses, and entirely eliminating the tax on investments.

Bloomberg mentions my plan in a column today-

How to Make America a Global Tax Haven
By Ramesh Ponnuru

“It’s just far-fetched to believe that Congress would lower corporate rates at the expense of small business,” says Representative Devin Nunes, a California Republican.

That, in a nutshell, is why corporate-tax rates are unlikely to fall, even though there is a bipartisan consensus that they’re too high. Nunes may, however, have the beginning of a solution.

The U.S. corporate-tax rate is higher than that of any other developed country. We have kept it at 35 percent even as other countries have reduced theirs. Republicans, unsurprisingly, want to cut the rate; most of them think 25 percent is the right target. President Barack Obama has suggested that eliminating loopholes would enable a reduction to 28 percent. (read the full column here)