Tax Reform
Burdensome taxes continue to plague hard-working Americans. Our tax code is too complex, costly and time-consuming. It is estimated that individuals and businesses spend about 6.1 billion hours a year complying with the filing requirements of the tax code. We can all agree that we need real reform that makes the tax code simpler and lowers taxes on all Americans and families.
We must be mindful that reform cannot hurt the creation of new jobs, home ownership, opportunities for churches and community organizations to benefit from charitable deductions, or the ability of municipalities to access credit to address local infrastructure needs. Americans want a simpler and fairer tax code that lowers the tax burden on middle class families and doesn’t give tax breaks to special interests and big business. Our current tax code hurts business’ ability to grow and create new middle class jobs. It is so complex that it is estimated to be longer than all the Harry Potter book series combined. Americans spend over $168 billion just to comply with the current code with over half of Americans hiring outside help to sort through the confusion. Coupled with the fact that Americans will spend more money on food, clothing and housing combined, the tax code is placing an unnecessary burden on American families and the economy. That is why I support cutting taxes for working Americans and the businesses that hire them. Lower taxes mean more money for businesses to expand and create jobs and more money in the pockets of Americans to spend as they see fit.
Our deficits have exploded and our debt has grown out of control, not because taxpayers do not pay enough but because Washington spends too much. I will continue to fight for Washington to gain control and cut federal spending. Washington’s reckless spending with your tax dollars needs to stop. American families have to live within their means. The federal government should as well.
Estate Tax
Estate taxes are an unfair assault on the hard work and investment of small business owners and family farmers across the country. Taxing the same assets for a third or fourth time is exactly what makes our current tax code so harmful to economic growth.
I have consistently supported efforts to permanently repeal the estate tax. In the 113th Congress, I have co-sponsored both H.R. 483 Farmers Against Crippling Taxes and H.R. 147 Death Tax Repeal Act. I also co-sponsored H.R. 1259, the Death Tax Repeal Permanency Act of 2011 in the 112th Congress.
To bolster economic recovery, we must do more to make life more affordable, and encourage people to make the investments in their businesses that will get our economy moving again. Federal estate or “death” taxes challenges the very foundation of the American dream and it’s an absolute tragedy that many Illinois farmers and small business owners are forced to liquidate assets or sell the business completely just to cover the burden of estate tax costs. Small businesses are the engine of our economy. Entrepreneurship and ingenuity should not be penalized.
Permanent Internet Freedom Act
The internet has become an essential tool in our daily lives—from accessing educational resources, applying for jobs, sharing ideas and running businesses to communicating with families and friends. Taxing internet access—the on-ramp to the web—would set a dangerous precedent and would be harmful to economic growth, hindering the numerous innovations already spurred by affordable access to internet.
I am proud to co-sponsor H.R. 3086, the Permanent Internet Tax Freedom Act, a bill that would permanently extend the Internet Tax Freedom Act, preventing state and local governments from taxing access to internet services.
Resources Available for Filing Your Taxes
(Click the picture for information on free tax resources)
More on Tax Reform
Washington, DC — U.S. Representative Randy Hultgren (IL-14) this week joined his colleagues in the House in honoring former Illinois Congressmen Phil Crane and Lane Evans, both of whom passed away this month. Rep. Hultgren gave remarks on the House floor honoring Rep. Crane, who served in the U.S. House from 1969 to 2005 and represented much of what is now the 14th Congressional District.
Washington, DC – U.S. Representative Randy Hultgren (IL-14) this week visited 14th District manufacturers who are on the front lines of innovation and demonstrate the large potential for a manufacturing resurgence in Illinois. Rep. Hultgren met with executives and staff at Synergy Flavors in Wauconda, which specializes in flavoring foods from coffee to pie gravy, as well as UniCarriers Americas Corporation in Marengo which manufactures a complete line of forklifts including the Nissan Forklift.
Washington, DC – U.S. Representative Randy Hultgren (IL-14) has been named a “Taxpayer Hero” for the first session of the 113th Congress by the Council for Citizens Against Government Waste (CCAGW). Rep. Hultgren was recognized for his 89 percent voting record to protect and save taxpayer money by his continued supported of legislation that has eliminated wasteful spending, increased transparency, and put a dent on the ever-increasing national debt.
Washington, DC – U.S. Representatives Randy Hultgren (IL-14) is pushing for passage of the American Renaissance in Manufacturing (ARM) Act, H.R. 5360, a wide-ranging legislative package he cosponsored that is aimed at reducing competitive disadvantages of American manufacturers who engage in the global marketplace. Right now, American manufacturers face 20 percent higher costs compared to manufacturers in other countries, according to the National Association of Manufacturers (NAM).
Washington, DC – U.S. Representative Randy Hultgren (IL-14) today supported passage of the Child Tax Credit Improvement Act of 2014, H.R. 4935, a bill which raises the phase-out threshold for the $1,000 child tax credit for joint filers and ties the child tax credit to inflation.