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Taxes
Taxes are too high and too complicated in the United States. Unfortunately, as our federal debt continues to grow, there are those who believe that the only way to solve the problem is through tax increases. We need commonsense solutions to this issue that promotes simplicity, fairness and efficiency, but those necessary standards are not being met through today’s U.S. tax code. As a former tax lawyer, tax reform is one of my highest priorities. For this reason, I have been a longtime advocate for reducing the tax burden on our families, small businesses, and job creators. I continue to advocate for the repeal of the estate tax, extending the current tax cuts and revising our corporate tax rate, which is the second highest in the world.
Since the beginning of my time in Congress, I have supported tax relief legislation for Americans. I have co-sponsored such bills as the Death Tax Repeal Act, Individual AMT Repeal Act of 2009 and Economic Recovery and Middle Class Tax Relief Act of 2009. Earlier this Congress, I introduced the End Tax Uncertainty Act to make the tax levels in the 2001 and 2003 Tax Cuts permanent. This legislation will also repeal the Alternative Minimum Tax, estate, gift and generation-skipping transfer taxes, and will reduce the corporate tax rate to 25 percent. The End Tax Uncertainty Act is backed by Americans for Tax Reform and National Taxpayers Union. I also co-sponsored the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 which repealed the provision in the health care reform law that forced businesses to report any payments received over six hundred dollars.
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