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KTIV - Congressman Gets Input from Nebraskans on Simplifying the Tax Codes

News Article

Location: Wayne, NE

By Jacob Peklo

Understanding tax codes can be incredibly hard for many of us. It's often why companies will hire specialists, to find as many breaks as possible.

Nebraska Congressman Adrian Smith says that's just the start of the problem.

For the second time in less than 48 hours, Nebraska Congressman Adrian Smith was out meeting with folks about national policy.

"So, the agreement in Washington is that our tax code, it needs some fixing," said Smith.

It was a day to chat with locals in Wayne, Neb., about mending that broken tax code.

"There are some bright spots in the Nebraska economy, and we want to see more of those obviously, and I want to be able to take their message back to Washington," said Smith.

Regina Krebs is a certified public accountant. She came to the roundtable discussion at Wayne State College, to listen to her congressman speak, but she ended up sharing a lot.

"You don't have to dig very far or look at the tax code very far to see that it is very complicated," said Krebs.

Krebs agrees that the code can be overwhelming.

"Even with the simplest tax forms that are out there, a lot of people do request help in understanding them. They are very complex," said Krebs.

Krebs says closing off those loopholes will make everyone's job, including hers, a lot easier. She says people often don't know how each code applies to them.

"The loopholes, the different definitions between different types of income, different deductions that are available, the different tax credits that are available," said Krebs.

But Smith says the biggest advantage of a simplified tax code would be an ability to start paying back national obligations.

"Revenue-neutral moving forward moving forward would actually help our economy grow and that in turn would increase our revenue, so we could address our deficit and our debt," said Smith.

Smith says the current tax code will likely stay the same for at least the next year, but he hopes to help Congress start changing it some time in 2013.

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