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U.S. tax code needs to be changed: World Bank chief

05-14-2012 10:21 BJT

WASHINGTON, May 13 (Xinhua) -- The inefficient U.S. tax system needs to be reformed and its tax base should be broadened, World Bank President Robert Zoellick said on Sunday.

The U.S. tax code has now become riddled again with a whole series of inefficiencies and special favors, Zoellick said in an interview with CNN aired on Sunday.

On the tax reform front, the main message is to broaden the base and lower the rates, said the former U.S. trade representative and a former senior Treasury official.

U.S. Republicans and Democrats have unveiled their separate plans to reform the nation's obsolete and unfair tax system, which has attracted strong criticism.

Zoellick was set to step down as the World Bank head when his five-year term expires on June 30.

Editor:Wang Lingfei |Source: Xinhua

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