Americans have long been waiting for a tax code that is fair, understandable and can fit on the back of a postcard. While Democrats staged a sit-in to protest the Second Amendment, Republicans introduced a bill aimed at simplifying the tax code. Some conservatives think that even if the bill made it through the House and the Senate, the President would veto it anyway.
“For years, hard-working American taxpayers have asked Washington for a tax code so simple and fair and understandable that it could fit on a postcard,” Rep. Kevin Brady, chairman of the House Ways and Means Committee said, “That is exactly what we propose.” The plan includes reforms, such as repealing the death tax, cutting taxes on small businesses and on savings and investment. The new bill would put an end to penalties that are in the current tax code and often force American companies to move overseas.
Young Conservatives reports:
On Friday, House Republicans introduced a tax reform plan that would simplify the tax code in such a way that it would fit on a postcard.
“No longer will we be the only major country that still taxes its own exports. No longer will American products lose out to foreign competitors, simply because they’re proudly stamped ‘Made in America,’” the Texas Republican added.
Additionally, the proposal would stop overtaxing American-made goods and would provide a tax-free return on business investments.