It's that time of year again. The tax-filing deadline is Tuesday, April 17, and many Americans are still crunching numbers for their federal income tax returns. Some filers will get back more money than expected and some will get less. Others will owe money. I have said many times that the complexity of the U.S. Tax Code is not a Republican or Democrat problem, but rather a problem that we must address together.
At present, the federal tax code has been changed more than 4,000 times in the past decade. If we do not adapt now, it will only continue to expand. There are a number of steps we can take to simplify the tax code. In June 2011, I introduced the DEBT Contribution Act, after a constituent inquired how they could do more to help pay down national debt. My bill makes it easier for patriotic Americans to pay down the national debt by treating their debt contribution payments as charitable tax deductions. The Fiscal Year 2013 budget proposal, introduced by Representative Paul Ryan (R-WI) and passed last month in the House of Representatives, also calls for a more simplified tax code.
I believe that these two measures would directly ease the confusion that American families and businesses experience this time every year. I believe very strongly that our House GOP budget proposal is the common sense tax reform that the American people have long demanded from their representatives in Washington--lower tax rates, the closure of certain corporate loopholes, and more incentives for savings and investments.
I believe in major tax reforms that will broaden the tax base and give taxpayers more freedom with their hard-earned money to encourage economic growth and job creation. As I remain committed to job creation, I also believe this is the wrong time to raise taxes on anyone. High taxes prevent economic growth and kill jobs and America now has the highest corporate tax rate in the world. Americans need to be more globally competitive, and lowering our taxes to discourage the exportation of jobs to China and India will achieve that. If we decrease rates for small businesses, they can lead us toward a prospering economy.
We need an economy based on opportunity and hard work, because in a fair fight I believe Americans will always win if they are given the opportunity. That's what I hope to accomplish as a supporter of the tax changes in the House GOP FY2013 budget proposal--a victory for America.
I would like all Ohioans in the 15th district to know that my office is here to help you with any issues you may have throughout the year, so please do not hesitate to contact me in my Central Ohio District Office at 614-771-4968.