The steering committee is directed to: conduct information symposia and develop recommendations regarding Wisconsin’s income tax code. The committee shall: review Wisconsin’s current income tax code, the income tax codes of other states, and previously proposed methods for state tax code reform; consider the social and economic effects of tax code reforms as applied to individual and corporate taxpayers as well as the fiscal effects on state revenues; and develop recommendations, in the form of a committee report, for income tax reform that would improve economic growth for residents and businesses in the State of Wisconsin.