Monday, August 21, 2017
Graves: I will work to pass comprehensive, pro-growth tax reform
America’s tax code is now more than 2.4 million words long. To put that into perspective, the King James Bible is roughly 783,137 words – or less than one third as long as our tax code.
When the House returns to Washington in September, we will begin the process of passing comprehensive tax reform.
In just a few words, what that means for Missourians is lower taxes and a simpler filing process.
A streamlined process and lower rates for individuals and businesses means more time spent growing the economy and more money in the pockets of everyday Americans.
Need proof? A few recent studies have shown that Americans spend $99 billion each year complying with income tax requirements. That’s really outrageous. And it’s got to change.
At the end of the day, I'm a firm believer that the American people should decide how to spend their money – not the federal government. And federal regulations also shouldn’t be allowed to distract our focus away from growth and prosperity
Right now, with both Congress and the White House controlled by Republicans, we have a chance to pass the first comprehensive tax reform in 31 years.
What that means is pro-growth tax reform that will grow jobs and paychecks, make the tax code flatter and fairer for all Americans, and help middle-class families – not Washington special interests.
But again, the first priority here is simplification. And as a proponent of the Fair Tax system for years now, I’ve always felt that this is the most important part of any tax reform discussions. Simplification will continue to be my priority during discussions on tax reform, but with the opportunity to do something about as rare as a solar eclipse, I will continue working with my colleagues in Congress to pass commonsense, comprehensive, pro-growth tax reform.