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ICYMI — Chairman Brady CNBC Op-Ed on Tax Reform Blueprint

July 20, 2016

We want to make tax filing so simple that ‘it would fit on a postcard’
Chairman Kevin Brady (R-TX)
July 19, 2016

People across the country are speaking out in 2016 – and their message is loud and it is clear.

They want America to lead again.

No matter if they are more focused on the events in Cleveland this week or those in Philadelphia next week, Americans of all political affiliations agree that we cannot afford to settle for a second-rate economy – one that prevents too many people from realizing their God-given potential.

Our broken tax code is one of the main reasons the United States lags behind when it comes to economic growth, job creation, and competitiveness. Without pro-growth tax reform, our workers and our businesses will continue to suffer.

That’s why, in June, House Republicans unveiled a blueprint for bold, pro-growth tax reform. This is a detailed plan to strengthen our economy for the long term and help Americans of all walks of life. An analysis by the Tax Foundation recently quantified the benefits of our blueprint, finding that it will create 1.7 million new jobs, significantly raise wages, and grow our economy by more than 9 percent.

Our plan will deliver economic growth, simplicity, and service:

Growth. Our blueprint incorporates some of the boldest, most innovative tax policies available – policies geared toward growing families’ paychecks, our nation’s small businesses, and our entire economy.

We unleash new job creation with the lowest taxes in modern history on local businesses – small or large, corporations or family-owned. And here’s why: Washington must take less from these job creators so they can grow the local economy rather than Washington’s economy.

This tax relief will allow job creators of all sizes to keep more of their earnings and reinvest them in growing their businesses, hiring new workers, or giving their employees a raise.

We boost investment by allowing all American businesses to fully and immediately write off purchases of new machinery or technology needed to produce and compete at a higher level.

Finally, we replace our outdated international tax system with one designed to make the United States the most attractive place in the world to headquarter a business. We significantly reduce the corporate income-tax rate and at the same time eliminate special-interest carve-outs. We also include innovative measures to level the playing field for American-made goods and services. These bold steps will make it easier for American businesses to compete, succeed, and win anywhere in the world – and especially here at home.

If we truly want to achieve lasting economic growth, we need our businesses to do more business – and we need them to do it in America.

Simplicity. Americans spend far too many hours and dollars just to comply with our complex tax laws. It doesn’t have to be this way. Under our blueprint, it won’t be.

We start with eliminating the maze of special-interest tax provisions that add confusion and keep rates artificially high for everyone. From there, we consolidate income-tax brackets and lower income-tax rates. Finally, we include important provisions to support families, higher education, and charitable giving.

Our plan will enable Americans to file their taxes on a form so straightforward it would fit on a postcard.

And by incentivizing savings and investment, our blueprint will promote job creation and economic growth while ensuring Americans spend far less of their time and take-home pay on appeasing the IRS.

Service. Today’s IRS is synonymous with blatant misconduct, government waste, and pitiful customer service. Our blueprint will redesign the IRS into an agency with a singular mission: Service First.

The new IRS will be centered around three key service units designed to help taxpayers. One will serve individuals and families, one will serve businesses, and one will be an independent and impartial arbitrator – in essence, a small claims court – to help Americans resolve tax disputes quickly and effectively.

This week in Cleveland and over the next five weeks in our districts, we will speak directly with our constituents about our plan for bold, pro-growth tax reform. This tax code is theirs – not ours – and we need their feedback to get it right and make it work for the long term.

House Republicans understand that Washington must lead on tax reform in order for America to lead in the global economy.