The Republican members of the Senate Finance Committee (led on the GOP side by Senator Orrin Hatch of Utah) sent a series of suggestions to the "Supercommittee" today.  I would urge you to read the whole document, but here are the best parts:

No tax hikes.  "We begin our recommendations confident that increasing taxes in the name of deficit reduction would be both counterproductive and unnecessary…while we are all committed to fundamental tax reform, tax reform must be a base-broadening and rate-lowering exercise that is revenue neutral against current tax policy."

Lower tax rates.  The top marginal tax rate should be no higher than 25% on both households and corporations.  Small employers should only face one tax rate with an easy computation of tax liability.

Territoriality.  U.S. companies should not have to pay taxes to a foreign government and the IRS on the same foreign-source income.

Repeal Obamacare tax hikes and the AMTEveryone forgets about the 20 new or higher taxes in Obamacare, many of which are scheduled to take effect in 2013.

Dynamic analysis.  Require that the Congressional Joint Committee on Taxation include macroeconomic feedback effects in any score of comprehensive tax reform.

There's a lot more good stuff in there, including full Obamacare repeal, tort reform, welfare reform, Medicare reform, and more.  Worth the read.

The only major item that was not there that I would have wanted to see was full business expensing.  A good list.

What do you think of the list?  Anything else needed that you would add?