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Public Statements

Issue Position: Tax Reform

Issue Position

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Date:
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"Our tax code is too complex, our rates are too high, and the tax burden is carried by too few. It costs
America's taxpayers over $400 billion every year just to be in compliance with the 17,000-page tax code."
-Gov. Huntsman, 8/31/11

Governor Huntsman supports comprehensive reform to make America's tax code flatter, fairer, simpler and
more conducive to growth.

Over the last 25 years, our tax system has devolved into a maze of credits, deductions, loopholes and temporary provisions which create fiscal uncertainty and hinder America's competitiveness. American businesses suffer from the second-highest corporate tax rate in the developed world. High marginal rates also negatively impact small businesses, many of which file as individuals. These rates must be reduced for America to compete in the 21st Century economy.

Governor Huntsman's proposals are modeled after Ronald Reagan's 1986 tax reform package, which economist Dale Jorgenson calculated as yielding over one trillion dollars in efficiency gains.

A PROVEN RECORD

On tax reform, Governor Huntsman offers more than rhetoric; he also offers a record of results.

In Utah, he signed the largest tax cut in state history, returning $400 million to families and businesses
and earning him the "Taxpayer Advocate" award from the Utah Taxpayers Association.

The Cato Institute called Huntsman's tax reform plan in Utah "very Reaganesque" and gave him an "A"
in tax policy.

Along with historic tax cuts, Huntsman also balanced every budget and tripled the state's rainy day fund,
leading the Pew Center to name Utah the best-managed state in America.

Huntsman's reforms helped Utah lead the nation in job creation under his leadership.


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