Billy Long: U. S. needs a Hancock Amendment

 

(By Seventh District Congressman Billy Long)

In 2017, Congress passed the Tax Cuts and Jobs Act. This lowered federal income tax for most Americans, and also lowered the corporate tax rate, making American companies more competitive on the global stage. 

I know here in the 7th District of Missouri a lot of manufacturing facilities and other employers added new equipment and went on a hiring spree. Ever since this law passed, Democrats have been trying to undo these common sense provisions, and raise taxes on many Americans. With runaway inflation and gas higher than a cat's back now is not the time to raise taxes at the federal or local level.

 

We just came through another tax season and several of my constituents spoke of the sticker shock they suffered when they saw the final number that they owed this year. 

After you figure in federal, state and local taxes the price really starts to add up. It’s especially jarring to working class Americans, who are already struggling to get by. 

Once you add in the inflation which is tantamount to a huge new tax, millions of hard working taxpayers are having trouble coming up with the money to pay Uncle Sam.

What’s interesting about state taxes is how many COVID-bucks that states have been given from the federal government. 

Over the last two years, Congress has passed a number of “COVID relief bills” which include billions of dollars going directly to the states and local governments. 

With this unexpected huge windfall every state should be reducing the tax burden on their residents but only half of them have. Why haven't these other states followed suit? They've been given more money than they know what to do with, so you know they can afford to relieve the tax burdens on their residents. 

Here in Missouri, the state legislature actually passed a huge gasoline tax last year. Why couldn’t they have just used the COVID money Congress gave them?

Former 7th District Congressman "Give 'Em Mel" Hancock fought long and hard to pass his eponymously named Hancock Amendment in Missouri before he set out to serve 8 years in Washington. 

Essentially the legislature can’t increase taxes beyond a certain percentage of Missourians’ incomes or beyond a set annual limit. That is unless the voters approve of said increase. 

With all of the tax burdens that Americans are facing today, it is time for a federal version of this law. Congress needs to pass a Constitutional Amendment, preventing the federal income tax from being raised beyond a certain limit. 

This would protect the voters from being subjected to unreasonably high tax increases. Remember, that is the very issue that caused the American Revolution. Our nation is built upon not levying un

reasonable taxes upon our citizens, and we need to codify that in a Constitutional Amendment.