19.10.201700:45:00UTC+00NY Fed’s Dudley Says U.S. Tax Reform May be Beneficial to Economy

A revamp of the U.S. tax code in order to make it simpler and more broad-based should make the country more attractive to business investments and stoke productivity, bolstering overall domestic economic expansion, New York Federal Reserve President William said on Wednesday.

Speaking on a panel regarding economic trends, Dudley said that the existing tax code was perceived as too burdensome and complex to foster productivity.

He said that an overhaul that simplifies and broaden the tax code would bolster economic growth.