The US Fiscal System Reform Plans
At present, reforms of the US fiscal system aimed at improving its quality by adjustment to the new realities of the national and global economy are in the works in line with the declared new official course of the national fiscal policy. The purpose of the paper was to analyze the necessity of updating the current US fiscal system due to the deteriorating state of the country’s public finances, mainly the growth of the public debt. Based on the analysis of the current state of the US fiscal system, the paper confirms the need for its reformation and indicates the sources of the problem related primarily to the excessive complexity of the fiscal legislation and the fiscal control system itself along with the excessive tax rates, etc.