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4/15/2014

Tax Day 2014: Fix the Broken Tax Code

Today is tax day -- when taxes are due for families and businesses in Minnesota and around the country.  It's no secret that many are facing a tax system that is too complex, too costly, and too time consuming. Nine out of ten Americans have to hire someone to do their taxes or purchase financial software to complete them. That's not a tax system designed to help hardworking taxpayers. That's a tax system designed for expensive attorneys or high priced tax planners.  With a tax code consisting of 3.8 million words, we are handcuffing our economy and forcing small business owners to devote critical time, energy, and money ensuring compliance instead of creating jobs and growing their businesses. Families looking to save for retirement or plan for their children's college education shouldn't have to hire expensive tax professionals just to make sure they're following the law.

The status quo is unacceptable and I will continue to work to reform and fix a broken tax code. Instead of the government picking winners and losers, we need a code that promotes savings, investment, hard work, innovation, and achievement. In today's global economy, we need to make the United States more internationally competitive and create jobs here at home while selling to new customers overseas.  By putting hard-earned dollars back in the pockets of Americans, we can grow our economy and help families better meet their financial needs.