One of my top priorities in Congress is to lower the tax burden on American families and ensure small businesses have the capital they need to be successful and create jobs.
One of my top priorities in Congress is to lower the tax burden on Americans and ensure that small businesses have the capital needed to grow and create jobs. That is why I cosponsored legislation to repeal the death tax, worked to co-author a budget proposal that balances in ten years without raising taxes, and even voted opposite members of my own party to oppose Senate Democrats’ flawed fiscal-cliff “compromise” legislation that allowed a tax hike on many Tennessee families and businesses.
Additionally, as a member of the House Ways & Means Committee, I am working to replace our outdated, overly complex tax laws through comprehensive tax reform. Our efforts led former Chairman Dave Camp to introduce a draft proposal last year outlining our vision for a fairer, flatter, and simpler tax code.
Specifically, this plan repeals nearly 230 sections of the tax code, cutting the federal income tax code by 25 percent. It also allows 95 percent of filers to get the lowest possible tax rate by simply claiming the standard deduction—no more having to itemize and track receipts. Additionally, the plan repeals Obamacare’s discriminatory medical device tax and combats IRS abuses by blocking implementation of proposed rules giving added scrutiny to social welfare groups applying for 501(c)4 status.
All told, the nonpartisan Joint Committee on Taxation says that this plan will create up to 1.8 million new private sector jobs, increase our Gross Domestic Product (GDP) by up to 20 percent of today’s economy, and will provide a middle-class family of four with an additional $1,300 in their pockets each year. To learn more click here.
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