Across Ohio's Second District -- as I sit down and talk with small business owners, manufacturers, restaurant owners, and other constituents -- I've heard three common requests when it comes to tax reform:
Competitive. Right now America has the highest corporate tax rate in the industrialized world. Our employers need to be able to compete on a global scale -- which is why we need to lower the corporate tax rate to 20%.
Comprehensive. The tax code hasn't been overhauled since 1986. To say it is complex and convoluted is an understatement. At this point, it doesn't just need a tweak here and there - we need to streamline the entire code into a 21st century, pro-growth system that benefits everyone, from families to employers.
Concrete. Uncertainty cripples small businesses -- what our employers need is permanent reform, so they can plan for growth and success 5, 10, 20 years down the road.
Congress has already begun to work towards reform. If you're interested in learning more and staying up to date as the process moves forward, here are a few more resources:
Better Way| A full task force report on why we need tax reform.