New York (CNNMoney.com) - President Obama's tax reform task force will deliver its long-overdue report on Friday offering a list of ways to improve the federal tax code.
Obama had asked the group to examine ways to simplify the code, reduce tax evasion, and close corporate loopholes - and to do so with an eye to raising more revenue.
The president, however, also tied the group's hands by not allowing it to consider any options that would raise taxes on the vast majority of Americans.
That directive, of course, was in keeping with Obama's campaign promise not to increase taxes on any married couple making less than $250,000 or any single individual making less than $200,000.
In other words, the panel wasn't allowed to consider anything that would tap 98% of the country.