House Republicans Propose Major Reforms to Tax Code


While everybody stands to benefit from having to pay less taxes, the tax reform package from the House GOP is especially beneficial when it comes to the issue of outsourcing. With the current exorbitant corporate tax rate slated to be removed, American companies will be free to do their business in the US without having to worry about paying an arm and leg to do so:

“To help businesses, the plan would stop overtaxing American products and would provide a tax-free return on investment for businesses.

‘For the first time we’ll end penalties in the current tax code that too often force American companies to move their jobs, technologies, and headquarters overseas,’ Brady said. ‘No longer will we be the only major country that still taxes its own exports. No longer will American products lose out to foreign competitors, simply because they’re proudly stamped ‘Made in America.’’

Finally, the plan would restructure the IRS with the goals of clearing out bureaucracy and cutting down on intimidation.

‘A simpler, fairer tax code demands a simpler, fairer tax collector,’ Brady said. ‘We will bust up the IRS as it is today, redesigning it into three smaller, more focused units to serve businesses, to provide state of the art taxpayer service for families and individuals and quickly and affordably resolving tax disputes.’”

Source: Free Beacon



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