Fixing our outdated, loophole-laden, job-killing tax code is long overdue. If we don’t pass tax reform now, we may be stuck with this economy-killing tax code for years to come! And that would be devastating for many reasons:
- The U.S. tax code is a complicated mes, a significant time-waster, and a drain on the economy.
- Americans want a tax code that is flatter, with fewer brackets, and simpler, with less need to employ accountants and tax attorneys to navigate the code.
- Our current tax system slows economic growth, and reduces opportunity and wages. 4. Most Americans favor tax reform that moves our nation forward.
- The proposed tax reform will make the United States a better place to invest and do business.
- The House GOP’s tax bill addresses many of the most serious problems plaguing our tax code, including excessively high tax rates for corporations and incentives for businesses to move abroad.
The concern in high-tax states is loss of SALT deductions. But really, why should other low-tax states underwrite high-tax states? Residents of high-tax states should hold their state electeds accountable for their state tax situation. An overall improvement in the national economy will help all Americans, even those in high-tax states.