Howard Gleckman of the Tax Policy Center:
The best course may be for Congress to extend low- and middle-class provisions of the Bush tax cuts for a year or two, and use that time to design a serious tax reform.
Congress doesn't have time to do serious tax reform this year, and the economy is too weak to withstand a multi-hundred-billion dollar tax hike starting January 2011. But eventually, we need both serious tax reform and a hundred-billion dollar tax hike.
Read the full story at TaxVox.
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Derek Thompson is a staff writer at The Atlantic, where he writes about economics, labor markets, and the media. He is the author of Hit Makers.