Recognizing that the nation’s tax code is broken, Wyden has led the effort for comprehensive tax reform that will simplify the tax code, bring down corporate rates and make the U.S. more globally competitive. Styled after the 1986  tax reform effort -- which aided in creating more than 6.3 million new jobs in the two years after it was enacted -- the Bipartisan Tax Fairness and Simplification Act simultaneously reforms the corporate and individual tax codes and is expected to aid in the creation of millions of new jobs. 

Cosponsored by Republican Senator Dan Coats of Indiana, the Bipartisan Tax Fairness and Simplification Act is the first bipartisan, comprehensive tax reform legislation offered in more than 25 years.  It has been endorsed by economists, leaders and think tanks across the ideological spectrum and was recommended in the 2010 Fiscal Commission’s report as a way to simplify the tax code and broaden the U.S. tax base.