Taxes
Americans deserve a fairer tax system that will minimize the burdens of complexity while promoting economic prosperity and growth. Good tax policy should be simple, efficient, and fair.
During my time in Washington, I have voted to:
- Reduce the individual income tax,
- Eliminate the marriage penalty,
- Repeal the death tax,
- Increase the per-child tax credit,
- Extend the operating loss carry-back deduction from two to five years, and
- Cut taxes on IRAs to promote savings and investment.
Our tax system is needlessly complex and in need of reform. I am a cosponsor of the Tax Code Termination Act which would declare that any new federal tax system should be a simple and fair system that: 1) applies a low rate to all Americans; 2) provides tax relief for working Americans; 3) protects the rights of taxpayers and reduces tax collection abuses; 4) eliminates the bias against savings and investments; 5) promotes economic growth and job creation; and 6) does not penalize marriage or families.
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