The last comprehensive, bipartisan tax reform in this country was over thirty years ago. Since then, American taxes have grown in complexity, with the U.S. tax code now containing nearly 4 million words that sanction $1.6 trillion annually in lost revenue through various tax breaks and loopholes. The U.S. has fallen behind other countries in competitiveness. Yet, revenue is not keeping up with spending. The time has come for fundamental tax reform that makes the tax code simpler and fairer, promotes competitiveness and economic growth, and reduces deficits. Tax reform must be a critical part of any plan to fix the national debt.
Spending through the tax code increases complexity and reduces fairness
The current tax code is inadequate to address our fiscal challenges
Tax reform must be a part of efforts to fix the debt and strengthen the economy
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Despite the passage of major tax cuts in 2017, the United States still needs real, comprehensive tax reform. We cannot afford tax cuts that add to the national debt. Here are some helpful resources to help grasp this important topic.
The tax cut legislation passed by Congress will increase the national debt by about $20,000 per U.S. household.
Our Taxpayer Receipt shows where your federal tax dollars go.
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