Our tax code is broken. Simply put, it’s too complex. A 77,000 page behemoth of convoluted rules, regulations, and red tape.
That’s why House Republicans have delivered a detailed plan on how we fix it, a plan that’s built for growth and simple enough to fit on a post card (that’s right, a post card).
— Ways and Means (@WaysandMeansGOP) June 27, 2016
Rep. Diane Black (R-TN) has seen firsthand how our broken tax code impacts Americans on a daily basis. Rep Black — who prior to coming to Congress ran her own daycare –headed up fundraising and philanthropic efforts for her local hospital, and helped start a small family business, knows how our current system of taxation is bad for America, and more so, is bad for women.
Rep. Black recently took to BlogHer to point out how our broken tax code is, just like anything else, a women’s issue as well, and how through our Better Way agenda Republicans are leading in the fight to fix it. As she says, “When politicians talk in Washington talk about “women’s issues,” I’m always quick to remind them that our confusing, complex, and costly tax code is among them.”
Here are highlights from Rep. Black’s guest blog post:
On Our Broken Tax Code:
Our corporate tax rate, the highest in the industrialized world, acutely impacts women through the lost jobs that it sends overseas. Meanwhile, the sheer length of the tax code means women and families must spend an average of 13 hours just to complete their annual returns.
On How We Fix It:
Our plan starts with simplifying the tax code to three tax brackets, and lowering the top individual income tax rate down to 33 percent. It also calls for simplifying taxes for families by creating a larger standard deduction and a larger child and dependent tax credit.
This plan for tax reform also respects the work of our job creators by offering the lowest tax rate since before World War II for small businesses operating as sole proprietorships or pass-through entities—designations that apply to 95 percent of businesses today, according to the Tax Foundation think tank. This should come as good news to the more than 9 million women-owned businesses throughout the United States.
Finally, our plan cleans house at the IRS; installing a “small claims court” that is independent of the agency and allows disputes to be resolved quickly and impartially.