In a recent opinion piece published in The Hill, Daniel Schneider, the Executive Director at the American Conservative Union, and Pete Sepp, the President of National Taxpayers Union, outlined what is necessary for any major tax reform bill to be a success. Comprehensive tax reform needs to focus on simplification of the current code, lowering rates for individuals and businesses, reining in the IRS, and creating permanence, not just short term cuts. These are achievable goals that will help our economy grow and prosper.
These goals for tax reform echo those voiced by prominent Republican leaders, including House Ways and Means Chairman Kevin Brady just yesterday. Speaking at the historic Reagan Ranch, Chairman Brady advocated for significant simplification of the tax code, which has tripled in length since the last tax reform overhaul. The shift to a territorial system is of paramount importance, and Chairman Brady expressed support for relieving American businesses who are subjected to double taxation on money made overseas – once abroad, and again here in the United States. The Chairman also spoke at great length about the need to promote growth, primarily through lowering tax rates for businesses. Growth comes from the lowest rates, Brady said, and businesses need to be able to send less of their money to Washington so they can invest more in creating jobs and opportunity.
With Congressmen Peter Roskam (R-IL), David Schweikert (R-AZ), and Carlos Curbelo (R-FL) by his side, Brady outlined the path towards a meaningful overhaul of our burdensome tax code and stressed his willingness to work with anyone serious about achieving tax reform. The support in Washington for a comprehensive tax reform bill makes now the perfect time to move forward and provide relief to American families and businesses by establishing permanent, pro-growth tax reform.