Together, we spend over 6 million hours and more than $220 billion filing our taxes each year– whether that’s paying an accountant or purchasing tax software. Many have asked why the system is so confusing and expensive in the first place. In government’s endless quest to manipulate our behavior and redistribute wealth, we’ve ended up with a tax system that doesn’t end up working for anyone.
Our tax code is one of the most complicated in the world. Its 70,000 pages are full of regulations and loopholes that hurt our economy and take money from families and small businesses to give to special interests.
Small business owners are often forced to make decisions based on the tax code – such as the employer mandate under Obamacare – rather the ones that would grow their company and create new jobs. If only they could keep more of their own money, they could buy new equipment, hire more workers, or even give raises.
And while our tax code is greatly in need of change, so is the agency that oversees it. The lack of accountability and transparency at the Internal Revenue Service (IRS) is not only troubling – it is an abuse of power. Last year we found out the IRS targeted conservative-leaning groups. The head of the IRS has also announced that it will do its part in implementing President Obama’s lawless amnesty by making thousands of dollars in payments to illegal aliens.
It’s time to radically alter the tax code and the IRS. We can do both by making the tax code far simpler and fairer. Chairman Paul Ryan of the House Ways and Means committee will soon be putting forth the House Republican proposal. In addition, I have re-introduced my bi-partisan bill, H.R 1397, the Seniors’ Tax Simplification Act, which would make filing for seniors dramatically simpler and quicker.
Lastly, we must repeal Obamacare. When fully implemented, Obamacare will impose a total of around 20 new taxes on families and small businesses. This March I, along with my colleagues in the House helped pass a budget to repeal the law in its entirety, including all regulations, mandates and taxes.
I will continue working hard to reform our broken tax code and make the process easier, cheaper and less confusing for all. We need a tax code that works for everyone.