Issue Position: Tax Reform

Issue Position

Reform the Complex Job-Killing Federal Tax Code and Fix the IRS

ACTION ITEMS:

Push for lower, fairer, more predictable taxes to create jobs
Reduce high taxes that send jobs offshore
End U.S. from having highest corporate tax rate among industrialized countries

It takes 73,954 pages for the Internal Revenue Service to explain to American families and businesses how much federal taxes they owe.

This complex monstrosity of personal, business, capital gains, death, and alternative minimum taxes combined with deductions, credits, and exemptions is an expensive nightmare that discourages business investment and job creation in our country.

Additionally, the high tax rates paid by U.S. citizens and companies push jobs offshore. Our combined 40% federal and average state corporate tax rate is the highest among industrialized countries. Canada's rate is 26%, Mexico and Germany 30%, Russia 20%, and China's rate is 25%.

Congress has not reformed the federal tax code since 1986 under the leadership of President Ronald Reagan. Another overhaul is long overdue. More jobs will be created in Maine's 2nd Congressional District and throughout the country when federal tax rates are lowered and loopholes closed.

During much of the past 40 years, Maine's war on jobs has been led by career politicians gradually raising personal income, business, sales, gasoline, property, automobile excise, and other taxes to among the highest in the nation. Those job-killing policies should not be exported to Washington by Maine's next 2nd District Representative.

While in Congress, I'll fight for lower, fairer, and more predictable federal taxes to help our hurting 2nd District families keep more of their own money. Tax reform will also incentivize business owners and entrepreneurs to invest their capital to start and/or grow their companies and hire more workers here in Maine and across America.

Source