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Public Statements

Taxes

Floor Speech

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Date:
Location: Washington, DC

Mr. PALAZZO. Mr. Speaker, I'm a CPA by trade. I've spent many years in my former life wading through volumes of Tax Code trying to ensure my clients followed every last letter of the law while also trying to ensure they don't get stuck paying more taxes than they owe. But the American people and the people of south Mississippi don't need a CPA to tell them that we need a simpler, fairer, and flatter Tax Code.

Last week, the U.S. Senate sent a strong message when it voted to raise taxes on small businesses and families. In south Mississippi alone, the proposed tax hikes would increase taxes by an average of $2,200 per family. That's a total of more than $723 million more that south Mississippians would have to pay.

In addition to that extra tax burden, a recent study from Ernst & Young shows that we could lose as many as 710,000 jobs, and wages could decrease by almost 2 percent.

Now, I'm no rocket scientist, but I'm pretty sure that the American people and the people of south Mississippi don't need a rocket scientist to tell them that these tax hikes are the last thing we need right now. That's why the House stepped forward yesterday and passed legislation to stop the tax hike, and that's why we're committed to continue working on tax reform to make our Tax Code simpler, fairer, and flatter for all Americans.


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