On October 9, 1986, the Fox Broadcasting group set out to compete with ABC, CBS, and NBC. Its first show to hit the air was The Late Show, hosted by Joan Rivers at the time. That same year, President Ronald Reagan signed the last major reform to the tax code into law.
In the 31 years since, Fox has become a major broadcasting network with affiliated companies operating multiple entertainment channels in extensive international markets.
Meanwhile, the American tax code has only become outdated, ineffective, and harmful to American families and businesses.
It’s clear that simply tinkering with our broken tax code won’t fix these problems. Today, we have a once-in-a-generation opportunity to move forward with bold, pro-growth tax reform to create jobs, grow wages, and vault America back into the lead.
SO, WHAT DOES OUR VISION LOOK LIKE?
Our vision for tax reform…
This 40 percent tax is imposed as a second or third layer of taxes on a person’s business or other assets when they are passed down to the next generation. With today’s broken tax code, even death is a taxable event.
Many of you are looking at our current tax code and seeing a document that discourages savings and investment instead of encouraging and rewarding your success.
We’re changing that.
Intrigued? Check out what else we’re doing to reshape America’s tax code.
- Lowers individual tax rates across-the-board and consolidates existing tax brackets.
- Delivers the lowest tax rates in modern history for American job creators
- Eliminates the maze of unfair special interest loopholes
- Increases the standard deduction
- Separates wage income from small business income
- Ends the Death Tax
Check back on Monday to find out more about how we plan to fix our broken tax code or sign up here to receive updates directly to your inbox.