Taxes
The federal government continues to spend money we don't have and issue regulations that reduce revenues and stunt job creation. This is a bad combination. I’m committed to cutting down on needless regulations, reducing wasteful spending, and simplifying our tax code in order to restore economic growth and the jobs that come along with a healthy economy.
The federal government continues to spend money we don't have and issue regulations that reduce revenues and stunt job creation. This is a bad combination. I’m committed to cutting down on needless regulations, reducing wasteful spending, and simplifying our tax code in order to restore economic growth and the jobs that come along with a healthy economy.
Key Issues:
- Reforming the Tax Code: Our federal tax code has grown to be too big and too complex. Instead of promoting the growth of U.S. jobs, wages, and the economy, our tax code is working against us. In 1960, 17 of the 20 largest global companies were headquartered in the United States. Now that the U.S. imposes the highest corporate income tax rate in the developed world, this number has dropped to six. I’m working to advance policies that make the tax code fairer and simpler for everyone. I have been proud to support bills like the Main Street Fairness Act (H.R. 5076), which prohibits the federal government from taxing individual business income at a higher rate that corporate income; the Water and Agriculture Tax Reform Act of 2015 (H.R. 4220), a bill that reforms the tax code to help keep Colorado’s water infrastructure in working order for farmers and ranchers; and the Craft Beverage Modernization and Tax Reform Act of 2015 (H.R. 2903), which would amend the tax code to make it easier for craft beverage brewers across Colorado to expand their businesses.
- Oversight of the Internal Revenue Service: The Internal Revenue Service (IRS) is the embodiment of all that is wrong with how the federal government conducts itself on behalf of the American people. The IRS continues to be unfair and untrustworthy. The House has passed several bills to bring long-overdue reforms to the IRS, including the IRS Oversight While Eliminating Spending (OWES) Act (H.R. 4885), which eliminates the ability of the IRS to use fees collected from American taxpayers on unrelated government entities or programs without the approval of Congress; and the No Hires for the Delinquent IRS Act (H.R. 1206), which ensure the IRS does not hire, or continue to employ, people who have failed to pay their own taxes or follow other IRS that the rest of America is subject to.