The Bipartisan Policy Center's (BPC) tax reform bill is a comprehensive plan that reduces tax expenditures and raises revenues. This memorandum will discuss America's current fiscal challenge and the role of tax reform, outline the major components of the BPC tax reform plan, list the advantages and disadvantages of the plan for your constituents, and make a voting recommendation. While the BPC tax reform bill provides a blueprint for comprehensive tax reform through spending cuts, the overall revenue increase, especially the implementation of a value-added tax (VAT), is unsustainable. Vote “no” on the BPC tax reform plan. The Fiscal Challenge and Tax Reform America is the most prosperous and resilient nation in the world. American prosperity has provided economic freedom that has improved our position in the global marketplace and strengthened our national security. However, American prosperity is not guaranteed. America is facing two major fiscal challenges simultaneously, economic recovery and unsustainable debt. America's fiscal challenges are intertwined. America has been slow to recover from the recession that left millions of Americans unemployed, devastated home values ​​and shuttered businesses. However, even if America recovered from the recession, the debt would grow exponentially larger than the economy under current policy. The explosion of federal spending has led to a record debt of $17 trillion today. This debt will rapidly grow to unsustainable levels due to an aging population, rapidly rising healthcare costs, rising interest costs, and continued uncontrolled federal spending. Failure to control debt will ensure the failure of our economic recovery. The growing debt will force the nation to borrow... half the paper......ary, how it works. Hill and Wang.Joyce, P. 2011. The Congressional Budget Office: Honest Numbers, Power, and Politics. Washington, DC: Georgetown University Press.Matthews, D. 2012 “Are Political Parties Becoming More Unified?” Retrieved from http://www.washingtonpost.com/blogs/wonkblog/wp/2012/09/06/are-political-parties-growing-more-unified/.Tax Policy Center. 2010. “Bipartisan Policy Center's Tax Reform Proposal.” Retrieved from http://www.taxpolicycenter.org/taxtopics/BPC_Plan.cfm.Tax Policy Center. 2010. “Restoring America's Future.” Retrieved from http://bipartisanpolicy.org/sites/default/files/BPC%20FINAL%20REPORT%20FOR%20PRINTER%2002%2028%2011.pdf.Toder, E. 2012. “Distribution Estimates for Bipartisan Policy Center Tax Reform Proposal ” .” Retrieved from http://www.taxpolicycenter.org/taxtopics/Distribution-Estimates-for-BPC-Proposal.cfm.