Issue Position: Tax Reform

Issue Position

The U.S. tax code is overly bureaucratic, burdensome and must be reformed. According to the Joint Committee on Taxation, individuals, families and employers spend over 6 billion hours and over $160 billion per year trying to navigate the more than 70,000 pages of tax law.

The current tax code is hurting economic growth. Small businesses are not hiring, citing concern about raising taxes. The United States is now currently ranked number one as having the highest corporate tax rate. 2 At a time when jobs are a top priority, the current corporate tax rate is a job killer.

Real tax reform should take into account America's businesses -- both large and small. We need to lower this rate to ensure these vital businesses remain in the U.S. In addition to reducing the corporate tax rate, we must focus on our nation's small businesses, the backbone of our economy, that often file at the individual rate.

This country needs comprehensive tax reform….simple, fair and pro-growth. Instead of our current tax structure, I would like to see a simplified tax code with far fewer exemptions, deductions and credits. Reforming the tax code would more accurately account for both business and family life. -Dr. Benishek

Dr. Benishek believes the tax code is patently unfair. Many of the deductions and preferences in the system were lobbied for and are for the most part, used by a small group of individuals. The current tax code also creates a drag on growth because it is highly inefficient and uncompetitive. During our weakened economy, we should be doing everything we can to promote growth and competition.

In addition, the Estate Tax and the Alternative Minimum Tax should be repealed. Simplifying the tax code in this manner will broaden the tax base, increasing revenues while simultaneously promoting job creation.

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