Tax Reform: Simpler, Fairer, Flatter
The current tax code is outdated and overcomplicated.
America First Policies believes the current tax code is outdated, overcomplicated, and burdensome on American taxpayers. It’s time to simplify the tax code and the overwhelming process of filing taxes. It’s also time to enact tax relief for middle-class families and businesses, so we can unleash economic growth, create jobs, make businesses more competitive, and bring back trillions in corporate dollars held overseas.
- It’s been more than 30 years (1986) since the U.S. had comprehensive tax reform.
- Taxpayers spend almost 7 billion hours and over $250 billion annually on complying with an overly complicated tax code and filing their taxes.
- Nearly 90 percent of taxpayers need some help in filing their taxes.
- The U.S. has the third-highest corporate income tax rate in the world and the highest among G20 countries, which hurts investment and job creation.
- The U.S. tax code underwent nearly 5,000 changes from 2001 to 2013 alone — more than one change per day.
“The Case for Responsible Business Tax Reform,” A Report by the U.S Department of the Treasury’s Office of Tax Policy, January 2017, https://www.treasury.gov/resource-center/tax-policy/Documents/Report-Responsible-Business-Tax-Reform-2017.pdf
Mark P. Keightley, “An Overview of Recent Tax Reform Proposals,” Congressional Research Service, February 28, 2017, https://fas.org/sgp/crs/misc/R44771.pdf
George R. Crowley, “Case Studies in the Political Economy of Tax Reform,” Mercatus Center, May 2016, https://www.mercatus.org/system/files/Crowley-Tax-Reform-Case-Studies-v1.pdf
“Tax Complexity, Compliance, and Administration: The Merits of Simplification in Tax Reform,” U.S. Senate Committee on Finance, Full Committee Hearing, March 10, 2015, https://www.finance.senate.gov/hearings/tax-complexity-compliance-and-administration-the-merits-of-simplification-in-tax-reform
Chris Edwards, “Our Tax Code Is Crippling America,” TIME, April 11, 2016, http://time.com/4286921/complex-tax-code/
Scott A. Hodge, “The Compliance Costs of IRS Regulations,” Tax Foundation, June 15, 2016, https://taxfoundation.org/compliance-costs-irs-regulations