H.R. 622, The State and Local Sales Tax Deduction Fairness Act, which makes the state and local sales tax deduction permanent, will bring much-needed tax fairness and certainty for hardworking taxpayers in states without a state income tax.
It will put more of the hard-earned money back into the pockets of people in states like Texas, Washington, Florida and Nevada that currently don’t have the option.
It will allow families to keep more of their paycheck each year instead of feeding the corrupt IRS.
Middle class economics should be about helping families keep more of what they earn in sales tax states, and supporting family-owned farms and businesses rather than lining D.C.’s pockets.
…and the American Dream
For the first time in ten years the House will vote to repeal the estate tax through, H.R. 1105, The Death Tax Repeal Act, in an effort to bury the Estate Tax once and for all.
The Death Tax is an immoral tax and a calculated attack on the American Dream. It hurts our economy, punishes success and prevents family-owned businesses and farms from being passed down to the next generation. Over time it will steal the nest egg of minority and women-owned businesses, the fastest growing group of new start-ups in America who are building wealth for the very first time.
These people aren’t Paris Hilton or the “Robber Barons” of Teddy-Roosevelt’s era; they are the rancher, farmer, or entrepreneur—whose assets are tied to the earth in buildings, machines, and property. And at the end of the day it’s his or her spouse and children that have to sell the business to cover the ensuing bill from the IRS.
Since its creation as a temporary tax in 1916 to help fund World War I, the federal estate tax has robbed $1.1 trillion in capital from the U.S. economy while encouraging consumption and tax shelters today rather than investment and saving for tomorrow.
President Obama has been advised that if these bills hit his desk he should veto both of them. Why is the President turning his back on hardworking taxpayers? Why are we punishing success…
— Rep. Kevin Brady (R-TX)