In this week’s #TaxReformTuesday, Rep. Don Bacon (R-NE) discusses how today’s broken tax code hurts Main Street businesses and workers, and how Republicans are committed to tax reform that helps our local job creators succeed and grow.
CLICK HERE or the image above to watch.
Here’s what Rep. Bacon said:
“Hello, I’m Don Bacon, and I represent the hardworking men and women of the second district of Nebraska.
“Small businesses employ roughly half of the folks who are employed in our country. In fact, 400,000 Nebraskans work in small businesses every day, and I hear from them. I hear their challenges with health care costs, getting through the costs of regulations and red tape, and I also hear about taxes.
“Now, in the months ahead, Congress is going to be working on tax reform, and I look forward to that challenge.
“Our small businesses pay a 44% tax rate – one of the highest in the world – and we’ve got to do better than that. Furthermore, our businesses pay $147 billion a year in processing their taxes, as well as getting through the red tape and regulations. That is money that can be spent expanding their businesses and becoming more competitive and doing better. It costs us jobs. We must do better.
“So, small businesses are the engine of our economy. And I look forward to working on a tax reform that creates fairness where we get rid of loopholes and put everybody on a level playing field. I look forward to a tax reform that gives us simplicity. And I also look forward to building a plan or a system that helps us compete better on the global economy. I look forward to being a part of the solution and making a difference.