This Sunday, February 3, marks the 100 year anniversary of the Sixteenth Amendment, more commonly known as the amendment permitting the federal income tax. This day serves as a reminder of how the income tax has changed since it was first enacted in 1913. In recognition of the anniversary, House Ways and Means Committee Chairman Dave Camp (R-MI), Senate Finance Committee Chairman Max Baucus (D-MT) and Senate Finance Committee Ranking Member Orrin Hatch (R-UT), issued the statement below.
“Today, more than 148 million individuals file federal income taxes. And when they do, they struggle to make sense of a tax code that is too complex, too confusing and riddled with special interest loopholes. Nearly 9 out of 10 Americans either pay someone to prepare their taxes or buy software to do their own taxes, reinforcing the notion that our tax code is broken and needs to be reformed. Comprehensive tax reform can make the code simpler, fairer and easier to comply with, all of which can lead to families having more time, energy and money for what matters most – their families.”