With Americans facing today's tax deadline, Rep. Ed Royce (R-Fullerton) released the following statement on the need for comprehensive tax reform that makes our nation's outdated tax code fairer and simpler.
"Americans spend over $160 billion and about 6 billion hours a year trying to comply with our outdated, overly complicated tax code. In fact, the last time we had any kind of comprehensive tax reform was in 1986 -- before the fall of the Berlin Wall, the debut of the Internet, or the invention of the smartphone. Making our tax code fairer, simpler, and more competitive will allow families to save more and employers to hire and invest.
"I also support consolidating the number of income tax code brackets and getting rid of special interest tax breaks. Washington should not be exploiting our tax code to pick winners and losers. At a time when our economy is sluggish, we need tax reform that encourages growth, makes us more competitive and provides increased opportunity for all Americans."