Apr 24 2012
As American families and businesses faced Tax Day this week, we are reminded that our burdensome tax code needs to be overhauled and simplified. According to the National Taxpayer Union, as of 2010, our federal tax code had more than 3.8 million words. Additionally, it is estimated that taxpayers spend over 7 billion hours complying with tax laws.
To provide small business with some tax relief, the House approved the Small Business Tax Cut Act of 2012 (H.R. 9) on Thursday. This legislation provides a tax deduction, equal to 20% of a businesses’ active income, for companies with fewer than 500 employees. I was proud to support this legislation on the House floor Thursday which will allow small businesses to keep more of their hard-earned dollars to reinvest in their companies, and thus remain competitive in the global marketplace and hire more workers.
To get Americans working again and to encourage our economy, we must create an environment that empowers entrepreneurship and innovation. That is why I was proud to support H.R. 9 this week and will continue to fight for pro-growth solutions to assist North Texas small businesses and to ensure that all Americans have the opportunity to achieve the American Dream.
Dallas Regional Chamber & Fort Worth Chamber
On Tuesday, I was delighted to speak to the Dallas Regional Chamber and Fort Worth Chamber during their DFW Congressional Summit in DC. I discussed the importance of leadership and mentorship, as well as the need for pro-growth policies to help businesses grow and succeed. After my remarks, I answered questions from the business leaders in attendance and we continued our discussion on the impact government policies have on small businesses and the need for less government interference in the marketplace.
Congressional Art Competition
As you may know, every year I participate in the Congressional Art Competition, receiving submissions from talented high school students across the 32nd Congressional District. The winning piece is displayed in the U.S. Capitol for a year and the runners-up and “People’s Choice” award are displayed in my DC and Dallas offices.