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Public Statements

America Needs a New Tax Code

Floor Speech

Location: Washington, DC

Mr. PAULSEN. Mr. Speaker, tomorrow is tax day, and as Americans work to file their taxes by midnight tomorrow, they are reminded about how broken our Tax Code and our tax system really is, how burdensome it has become, how complicated it has become, and how it has not kept up with today's economy.

Unfortunately, Mr. Speaker, there are too many in Washington that always believe the answer is only to raise taxes rather than focusing on tax reform. Just a few weeks ago, the United States became the number one country in the developed world for having the highest corporate tax rate. This is something we should not be aspiring to. A new medical device tax is set to start next January that will be a hard-hitting tax on the American success story of medical innovation.

Mr. Speaker, we need a Tax Code that promotes hard work, achievement, innovation, and also savings and investment. Mr. Speaker, we need a Tax Code that is simpler and fair and more competitive for all taxpayers so we can grow our economy and create jobs.

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