Issue Position: Economy and Tax Reform

Issue Position

Most Americans agree that something must be done to create jobs and boost our still-lagging economy. While businesses have begun to recover from the recession, many workers are still without jobs and many employers are still unable to grow their companies. Unfortunately, this situation is amplified due to the fact that the U.S. continues to levy the highest corporate tax rates in the developed world.

To remedy this problem, I have introduced H.R. 2373, the Jumpstarting Our Business Sector (JOBS) Act. My JOBS Act would remove the burden of high taxes on business and industry, particularly small businesses, by eliminating corporate and capital gains taxes and extending for three years bonus depreciation and 100% expensing for certain business assets. My bill would also permanently repeal the estate and gift taxes, which keep family businesses from flourishing and growing into larger enterprises.

Of course, tax reform is necessary for individuals and families, as well. To that end, I have steadfastly supported the Fair Tax (H.R. 25, introduced by Rep. Rob Woodall), which would abolish the IRS and instead, create a uniform national sales tax. As the 113th Congress moves forward, I will remain engaged in the tax reform debate in hopes that we can create a fairer system for all Americans.

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