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Mr. HERGER. Yesterday, this House voted to stop the job-destroying tax hike that threatens to hit every American taxpayer at midnight on December 31. Today, we have an opportunity to build on that. We have an opportunity not only to do the right thing for jobs and job creators in the short-term, but to begin building the foundation for a more stable and prosperous economy in the future.
Few would argue that our current Tax Code is ideal. It's far too complicated, with taxpayers spending over $160 billion each year just to figure out what they owe. Even the Commissioner of the IRS has acknowledged that he hires a professional tax preparer to do his own taxes.
It's often unfair, with some taxpayers enjoying the benefits of narrow tax breaks that are not available to others. It has increasingly become a patchwork of temporary rules that fail to provide America's small businesses and job creators with the certainty they need to plan for the future.
Many of its features actually penalize the work, investment, and savings that are necessary to economic growth. Furthermore, an outdated international tax system, combined with the highest corporate tax rate in the developed world, places American companies at a disadvantage against their competitors based in Europe and China.
The bill before us lays out a pathway to a simpler, fairer, and more pro-growth Tax Code. With the right kind of tax reform, our Tax Code can become a means to support job creation rather than an obstacle standing in the way. In fact, it has been estimated that the tax reform would free up American businesses to create as many as 1 million new jobs in the first year alone.
I want to commend Chairman Camp for his outstanding leadership on this issue and for making it clear that House Republicans are serious about tax reform. Today's vote will send a strong message that tax reform is moving forward. I urge all Members to vote ``yes.''
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