Today the Big Six released their tax reform framework, NTU President Pete Sepp had this to say, “For overburdened taxpayers, the wait is over – Congress and the President are not only reading from the same book on tax reform, they’re now getting on the same page. The core tax reform principles they’ve outlined in today’s framework can deliver on relief for middle-class families and individuals, a simpler filing process, a fairer system that allows all businesses to create more jobs, and ultimately a prosperous economy. By lowering rates, broadening the tax base, getting rid of nuisances like the death tax and Alternative Minimum Tax, expanding the standard deduction, giving businesses of all sizes pro-growth tax tools, and enhancing our competitiveness abroad, the framework gives Congress the solid foundation it needs to legislate. In short, we have the best opportunity in more than three decades to transform our antiquated tax code for the benefit of everyone.
The task ahead is not easy, and public officials are about to be besieged by thousands of special interests who say it can’t be done. The naysayers should not be allowed to deter progress any longer. The reality is if Washington stands still on tax reform, America will fall further behind. Other nations will continue to improve their tax systems, economic opportunities will keep leaving our shores for less punitive tax climates, loopholes will proliferate, and the costs of complying with our tax system will worsen. Everyone who cares about America’s future must unite now on behalf of tax reform, and today’s framework has shown us how we can do so.”