The issue of Tax Reform affects all of us and dealing with it is an important part of my work in Congress.
The tax burden on American families and businesses needs to be reduced. Particularly in a tough economic environment, the last thing families and employers can afford is more taxes. The federal government already takes enough money and I believe taxpayers should be able to keep more of their paycheck.
Each year at tax time, families and small businesses find themselves spending more than 6 billion hours and $160 billion dollars trying to comply with the 70,000-page, 4-million word tax code in order to file their taxes. In fact, roughly 90 percent of taxpayers use either paid preparers or software each year to help navigate the tax code.
A simpler, fairer, code will help create a stronger economy and keep money in the pockets of taxpayers, not a federal government with a spending problem.
The need for tax reform is clear: the United States has the highest corporate tax rate in the industrialized world, which is why so many jobs are being shipped overseas. Comprehensive tax reform means companies can invest in America instead of shipping these jobs overseas.
On the Committee on Ways and Means, we are committed to common sense, comprehensive tax reform through a simpler, fairer, less costly tax code that eliminates special interest loopholes so that families can save more of their hard-earned money and allows employers the opportunity to hire and invest more in their businesses. Please visit the Committee on Ways and Means website to read more about our efforts toward tax reform.