Rep. Tom Graves (R-GA-09) released the following statement today on tax day, urging Congress to pass the Fair Tax. H.R. 25, or the Fair Tax Act, would replace the complicated U.S. tax code with a simpler, streamlined tax system by shifting the federal government's taxation system from income-based to consumption-based revenue collection.
"Today, as millions of Americans are writing yet another check to Uncle Sam, we are reminded of how little of our own money we're actually able to keep and reinvest into the American economy. Now, more than ever, America needs to implement a more efficient and fairer tax system in order to increase economic freedom and spur economic growth. It's time to pass the Fair Tax."
"The current U.S. tax code is unfair, costly, and unreasonably confusing. It also hampers financial opportunity, allows for massive loopholes, and encourages politicians and lobbyists to pick winners and losers. Bottom line: It's unfair to the American people. The Fair Tax would not only level the playing field for all Americans, it would also increase our competitiveness in the global marketplace, helping to boost the economy and attract jobs and businesses to the United States. President Obama repeatedly says every American should pay their "fair share' in federal taxes. There is no simpler solution to solving this issue than the Fair Tax."
Rep. Graves is an original co-sponsor of the Fair Tax Act. Introduced by Representative Rob Woodall (R-GA-07) on January 5, 2011, H.R. 25 repeals the income tax, employment tax, and the estate tax. These taxes would be replaced by a simple, national sales tax. Every person in the United States would be subject to the same tax rate with no exceptions or exclusions.
The Fair Tax will allow Americans to keep 100 percent of their paychecks, make American products more competitive, protect and ensure funding of Social Security and Medicare, empower low-income taxpayers, and put choice and control back in the hands of all Americans.