What Do Stephen King’s IT and the American Tax Code Have in Common?

As House Republicans, we want our work to reflect your voice. So take the next 30 seconds and tell us what you want from tax reform:

In 1986, Stephen King first published his notorious IT novel, an instant success that inspired an entire generation to fear clowns.  

And as you know, that’s the same year the last major reform to the American tax code was signed into law in 1986.

What else do IT and the tax code have in common? They’re both getting a remake this year.

This September, the second film adaptation of the horror novel will be hitting the big screens. And we’re gearing up for tax reform this fall.

The House, Senate, and White House are united. We have commonsense ideas for pro-growth, transformational tax reform, and we’re set to get it done in 2017.

SO, WHAT DOES OUR VISION LOOK LIKE?

Our vision for tax reform…

What does Alternative Minimum Tax (AMT) mean?

It means that small business owners are having to calculate their taxes for both regular income and for AMT. Once they do this, they’re forced to pay the higher of the two.

This tax has been hurting Main Street job creators for years. For 31 years to be exact. It’s these tax code components that are creating a drag on the American economy by discouraging American entrepreneurship and small business growth.

“The cost of delay means lack of innovation, less new products, and less jobs. It is that simple. We look at how much growth there will be and we pare it back based on delay and every time it is delayed we push that investment out. So, it does have an impact on people, how we hire, investment and new products.”

National Association of Manufacturers (NAM) board of directors Chairman and Emerson Electric CEO David Farr

We’re serious about strengthening the American economy, and we’re starting now with tax reform.

If you like the idea of repealing the Alternative Minimum Tax, which who doesn’t, then you’ll love what we have to say about the “Death Tax”.