Uncle Sam is knocking at your door once again. This can only mean one thing -- Tax Day is here.
Marking a day millions of Americans will file their taxes, April 17 is a loud reminder of how much of their hard-earned money is handed over to the government. I often wonder what would happen if Election Day coincided with Tax Day.
Our tax system has grown into quite the monstrosity, leading the American public to spend billions of dollars each year simply trying to understand and comply with the unnecessarily complex code. These trends cannot continue, and changes need to be made.
I am committed to promoting tax relief and reform that provides commonsense alternatives to the challenging tax code that often discourages hard work, savings and investment. It is time for Congress to take the necessary steps to ease the pain of Tax Day.
One such step is lessening the hefty burden required of our small businesses. With the constant threat of tax increases and an ever-stretching bureaucratic arm, some in Washington seem to be keen on impeding private enterprise. Quite frankly, it is a no-brainer why entrepreneurship is at a 17-year low.
Currently, cash-strained small businesses face federal tax rates as high as 35 percent. In the 5th District, where Mom and Pops are the backbone of our economy, we are perhaps disproportionately affected by this relentless threat. Small businesses are responsible for creating 60 percent of all new jobs in the last 15 years. Instead of imposing even more cumbersome policies, we should cut taxes to give our proven job creators room to grow and succeed.
This week, the House will vote on the Small Business Tax Cut Act, which will provide a 20 percent tax deduction for small business owners who are struggling to create jobs in the present economy.
To me, this legislation simply makes sense. A single bill will help 22 million hard-working small businesses--a result this country desperately needs.
Passing the Small Business Tax Cut Act is one way Congress can help diminish the pain of Tax Day. The American people deserve it, and the future of our nation depends on it.
U.S. Rep. Rodney Alexander, R-Quitman, represents Louisiana's 5th Congressional District and serves on the House Appropriations Committee.