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Taxes and Budget

Tax Reform

Congressman David Scott believes that the current income tax system is unfair, costly, and filled with special interest exemptions not available to average Americans. Countless hours are spent filing just a basic 1040 form. The complexity of the tax code causes disparities between tax filers. For example, two Americans that earn similar incomes can pay wildly varying taxes depending on thousands of tax situations.

Freedom Flat Tax Act - H.R. 1040

Congressman Scott introduced the Freedom Flat Tax Act with Republican Congressman Michael Burgess of Texas. H.R. 1040 would phase-in a flat tax over a three year period, with a 19 percent rate for the first two years and a 17 percent rate in subsequent years. It will allow no deductions or special interest loopholes, but will allow some personal exemptions, including a $5,300 exemption for each dependent. A family of four would not be subject to the flat tax until their combined income reached $35,400.

A flat tax would repeal the death tax, abolish the Alternative Minimum Tax (AMT) and eliminate the marriage penalty. Taxes could merely be filed on a post card. It would be very simple to detect fraud. Businesses would benefit from the freedom of not having to pay for complex tax code compliance.

The Fair Tax Act – H.R. 25

Congressman Scott supports the Fair Tax Act and is working with Congressman John Linder, the sponsor of the Fair Tax Act, to determine how we can effectively implement the Fair Tax Act. The Fair Tax has been promoted by Congressman Scott’s friend, radio celebrity Neal Boortz, and Congressman John Linder of Georgia in their excellent book on the Fair Tax, which Congressman Scott also endorses.

The Fair Tax would repeal all taxes under the current law and levy a 23% national retail sales tax as a replacement. Every family would receive a monthly rebate from the sales tax on spending up to the federal poverty level.

Congressman Scott believes that the Fair Tax would be preferable to the current system.

The bottom line.

In addition to supporting both the flat tax and the fair tax, Congressman Scott is currently working to simplify the tax code. Congressman Scott believes that intramural debates over one tax reform idea versus another distracts from the main goal of eliminating the current tax system. At this time all reformers should unite to demand action on tax reform and take a serious look at how we could effectively implement either the Fair Tax or the Flat Tax or some combination of tax reform that would simplify the tax code and be as fair as possible to taxpayers.

Related Documents:

Press Release - Congressman David Scott Announces Federal Funds for Newton County Project 9.27.2006

Press Release - Scott Statement on Anniversary of Hurricane Katrina 8.29.2006

Press Release - Scott Applauds Passage of Airline Pension Bill 7.28.2006

Press Release - Congressman Scott’s Statement on Bush Speech at NAACP Convention 7.20.2006

Speeches and Floor Statements - SCOTT LEADS FLOOR DEBATE AGAINST VRA AMENDMENT 6.29.2006

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Video: Floor Speech on National Security & Iraq

Video: Floor Speech on National Security & Iraq

Budget - Low

The Fiscal Year 2006 Budget - Low

The Fiscal Year 2006 Budget - High

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