Americans deserve a fairer tax system that will minimize the burdens of complexity while promoting economic prosperity and growth. Good tax policy should be simple, efficient, and fair.
During my time in Washington, I have voted to:
* Reduce the individual income tax,
* Eliminate the marriage penalty,
* Repeal the death tax,
* Increase the per-child tax credit,
* Extend the operating loss carry-back deduction from two to five years,
* Cut taxes on IRAs to promote savings and investment.
I was pleased to support an extension of the Bush tax cuts and have long supported additional measures to permanently eliminate the marriage penalty and the death tax. I will continue to work to see that tax relief comes to those who need it most.
Due to my concerns that our tax system is needlessly complex and in need of reform, I support the Tax Code Termination Act. This bill would declare that any new federal tax system should be a simple and fair system that, 1) applies to a low rate to all Americans; 2) provides tax relief for working Americans; 3) protects the rights of taxpayers and reduces tax collection abuses; 4) eliminates the bias against savings and investments; 5) promotes economic growth and job creation; and 6) does not penalize marriage or families.
You may be interested to know that I am also supporting legislation to give small businesses and employees a 100% suspension of the payroll tax for six months. Main Street, not Wall Street, needs our help. As someone who opposed the financial and auto-manufacturer bailouts, I am confident this common sense legislation will put money back into the hands of workers, in addition to helping small businesses by giving them the opportunity re-invest in their business and help turn our economy around. The Reclaiming Earnings to Lift Individuals, Employers, and Families (RELIEF) Act would:
* Give a tax holiday to employers and employees of businesses with less than 50 workers;
* Be an incentive for workers to spend more;
* Provide relief to business owners through a reduction in costs of labor; and
* Promote growth of small businesses by putting more cash into the hands of owners.
In today's economy, many are struggling to make ends meet. Financial burdens continue to hinder the general population and it is important that we find ways to assist those who so desperately need assistance. As the Congress continues to consider measures to improve our economic outlook, please rest assured I will continue to keep your views in mind.