June 27, 2016

GOP to Taxpayers: Send Us a Postcard

The latest plank in the GOP agenda.

Filing taxes for Income Redistribution Day is a dreaded annual event for most Americans. Even if you get a refund, you still spend hours gathering records and wading through the 74,608-page tax code to file your return. House Republicans have a plan to reform the system so that you can file your taxes much easier — on a postcard. Republicans aim to lower taxes for every income bracket and reduce the number of brackets to three. The top individual rate would drop from nearly 40% to 33%. Rep. Kevin Brady (R-TX), who chairs the House Ways and Means Committee, says, “It will take less from taxpayers at every income level because Washington takes too much of your hard earned dollars.” Amen to that.

The Washington Free Beacon reports that the plan also “would lower the corporate tax rate from the highest in the world to 20 percent.” Furthermore, “the plan would repeal the death tax, eliminate the alternative minimum tax, cut taxes on small businesses to 25 percent, and cut taxes on saving and investment, just to name a few of the reforms included in the proposal.”

The tax reform proposal is the last of six such policy plans released by House Speaker Paul Ryan to demonstrate Republicans’ intended governing agenda. Ryan has taken a very proactive approach in campaigning to keep congressional majorities this fall through attractive and needed policy proposals. Those majorities will be critical (for different reasons) no matter who wins the White House.

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