Friend –
Overhauling our broken tax code continues to be a top priority here in Congress, so I wanted to provide you with a quick update on our work in the House of Representatives to streamline and simplify the U.S. tax code:
Why now?
Both parties have failed the American people for far too long when it comes to implementing real, pro-taxpayer, pro-growth tax reform. Our country hasn’t seen major tax reform since 1986 – so it’s long overdue.
What’s the impact?
The United States currently imposes the highest combined federal-state business tax rate in the industrialized world. Recent estimates have found that Americans now spend over 409 billion dollars and 8.9 billion hours annually trying to comply with the tax code. It’s no wonder I hear from so many employers, farmers, families, and homeowners across Ohio’s 2nd District who feel like the cumulative weight of all the taxes they pay is strangling their ability to grow, save, or provide for their families. That’s part of the reason why it’s so frustrating when elected officials or leaders in Washington talk about increasing taxes in order to spur economic growth and address debt. Americans are left wondering “how much more can I be taxed?” We need real reform and we need it now.
What’s happening now?
The House of Representatives released a tax-reform blueprint in June 2016. The Trump administration released its own outline for tax reform in April. Since then, the House Ways and Means Committee, which is in charge of creating the Congressional plan to overhaul our broken tax code, has been holding open hearings, to begin this process in a transparent manner. Click here for the latest.
What’s the goal?
The goal is simple: we need to reintroduce sanity and common sense back into our tax code. Cutting through the layers of bureaucracy will be more complex, but it’s something that we have to tackle – so that we can simplify the code, reduce the burden on families and individuals, bring down rates, and allow American employers to compete by leveling the playing field.
What does that mean for American families + employers?
The nonpartisan Tax Foundation has already found that these reforms will create jobs and jumpstart our economy by:
- Creating 1.7 million new full-time jobs.
- Raising average post-tax household incomes by 8.7%.
- Allowing families to save $4,917 more of their income each year.
- Leapfrogging our economy from 31st to 3rd in competitiveness among OECD nations.
As we move forward with tax reform, I look forward to working with the Trump Administration and my fellow members of Congress to bring some real reform to an area that directly impacts so many American’s daily lives. I welcome your ideas and continued input as we undergo this process, so please don't hesitate to share your thoughts by
contacting one of my offices,
sending me an email, or
requesting an in-person meeting
