Working Americans need and deserve a fairer and simpler way to keep more of their hard earned money. I believe we need sweeping reform of our tax code that will give Americans more control of their money and help incentivize individuals and job creators to invest in our economy.
Americans should not only pay less in taxes, but they should also be spending less money and time filing them. Already, Americans spend far too much on tax preparation – 6 billion hours at a cost of $265.1 billion per year. This amounts to a 22-cent tax compliance surcharge for every dollar the income tax system collects.
America’s corporate tax rate is the highest in the industrialized world. This unnecessarily high tax rate encourages businesses to send American jobs overseas. I support tax reform that would cut the top corporate tax rate from 35 percent to 25 percent to ensure that entrepreneurs can remain competitive and create more jobs at home.
We can have a fairer, simpler tax code that will raise overall revenues and create jobs. We achieved that with the historic tax reform under Ronald Reagan, and we can do it again today.
Major Legislation (112th Congress)
In 2012, I supported the House-passed H.R. 6169, the Pathway to Job Creation through a Simpler, Fairer Tax Code Act of 2012.This bill puts forward sound principles for passing comprehensive tax reform in the 113th Congress. When combined with common sense spending cuts, this tax reform proposal will lead to the creation of 1 million jobs in the first year alone. In order to be eligible for expedited consideration, a tax reform bill would have to:
Legislative Action – Introduced legislation
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