Taxes

For last-minute tax tips and helpful hints, please visit the tax resources section of my website.

I believe that Congress needs to do more to keep money where it belongs – in your pocket. Keeping taxes low has always been one of my top priorities, and I can assure you that it will continue to be.

When consumers have more of their own money to spend, they spend more dollars on products made by companies that employ American workers. As consumers buy more and producers sell more, companies are able to expand their operations and hire more workers. With more people earning a salary, there are more consumers who will in turn buy more products.

Especially during tough economic times, we in Congress must be cautious of over-burdening American taxpayers. I will continue to fight for tax relief for hard-working American citizens, and to permanently extend the major tax cuts enacted in 2001 and 2003 so that Americans do not see an increase in their taxes when these cuts expire in the next few years.

Balanced Budget Amendment

One of the most important components of a strong economy is a balanced federal budget.  That’s why I am a cosponsor of H.J.Res. 1, which would add an amendment to the Constitution requiring that the federal government to balance the budget.  It would prohibit Congress from spending more money than it takes for a fiscal year.

While there would be waivers for extreme circumstances, such as times of war, this constitutional amendment would ensure that Congress does what all American families must do – live within its means.

State and Local Sales Tax Deductibility – H.R. 16

I believe that residents of Texas and other states without an income tax should be able to deduct their state sales taxes from their federal income taxes.  This can save families in the 12th District hundreds of dollars a year in taxes.

Unfortunately, this deduction is not available every year, making it difficult for families to make their financial plans.  My goal is to provide my constituents with the same predictability given to residents of states with an income tax, and to eliminate the uncertainty from year to year so they can make informed decisions about their finances.  I am a cosponsor of H.R. 16, which would make the deductibility of state sales taxes permanent.

Tax Holiday – H.R. 143

One of the best ways to help improve our economy is by injecting money directly into the hands of taxpayers.  I am a cosponsor of H.R. 143, a bill introduced by Congressman Gohmert that would create a two-month “tax holiday.” During the tax holiday, workers would not have to pay federal income taxes, and would instead take that money home in their paycheck.