Our tax system is a tangled web of complicated rules and regulations, skyrocketing compliance costs, and mounds of paperwork. The unfortunately reality is that instead of promoting economic growth, our tax code is forcing jobs overseas and putting American taxpayers last, when they should be first. This cannot continue. Currently, the United States has the highest corporate tax rate in the world. High corporate taxes lead to less capital for companies to invest into their businesses and employees and into our economy. American businesses should be encouraged to invest their profit in the United States so that they can invest in our economy and create jobs at home. American families should be put first by eliminating the death tax, which can take up to 40 percent of a family business’s assets if the owner passes away.
House Republicans and I believe that our tax system should be overhauled with three key principles in mind:
- We need to make the tax code simpler, fairer, and flatter, so that it’s not only easier to do your taxes, but it’s also easier to have peace of mind at critical moments in life.
- Our tax code should make it easier to create jobs, raise wages, and expand opportunity for all Americans. If any provisions don’t accomplish this goal, they should be eliminated.
- We need to fundamentally change the IRS so that it is simple, fair, and puts taxpayers first.
I’m proud that my efforts to reform our tax code have led me to be the recipient of the "Spirit of Enterprise” Award from the U.S. Chamber of Commerce and the “Taxpayer Hero” award from Citizens Against Government Waste, but our work is far from over. I’m committed to restoring integrity and fairness to our tax system.
More on Tax Relief
This week, like most Americans, I was outraged to learn that the hard-earned tax dollars of families and small businesses are being used for million-dollar executive bonuses at American International Group (AIG). Americans have rightfully lost confidence in Washington and in a Majority Democrat Party that has mismanaged their money, failed in its commitment to fiscal responsibility, and looked the other way while company executives fill their own pockets with tax dollars.
This week in Washington, I attended President Obama’s first address to Congress. On Tuesday evening, the President outlined his vision for America during these historic economic challenges.
President Obama strongly voiced his commitment to fiscal responsibility and job creation, and the nation stands ready for action. My Republican colleagues and I are ready to work with the President to ensure a more prosperous future, with bipartisan agreements that offer innovative and fiscally-responsible solutions to the current economic crisis.
Washington, DC – U.S. Congressman Pete Sessions (R-Dallas) issued the following statement in response to the Obama Administration’s fiscal year 2010 budget to Congress:
“Especially during this economic crisis, American families and businesses are making tough financial decisions every day, and they have every right to expect the same from their government.
Washington, DC – U.S. Congressman
Pete Sessions (R-Dallas) issued the following statement in response to President Barack Obama’s address to a joint session of Congress:
“Tonight, President Obama outlined his vision for America during these historic economic challenges. He has voiced his commitment to fiscal responsibility and job creation, and now is the time to place stated goals into action.
Today, every House Republican and seven Democrats voted against the largest spending bill in American history. With a price tag of $789 billion ($1.1 trillion including interest), this bill exceeds the current cost of the entire Iraq war. Despite bipartisan opposition, the Democrat Majority has chosen to capitalize on an economic crisis by today passing a trillion dollar spending spree that offers very little hope of job creation or economic growth.
Washington, DC – U.S. Congressman Pete Sessions today released the following statement after the House voted 244-188 for an “economic stimulus” bill totaling over $1.1 trillion (including interest):
Washington, DC – U.S. Congressman
Pete Sessions today released the following statement after the House voted in favor, 260-166, to release the second $350 billion installment for the Troubled Assets Relief Program (TARP):
“I am disappointed that this Congress has chosen to aid and abet tax dollar mismanagement by allowing the second $350 billion installment of TARP funds.
As our nation’s stock market remains destabilized and our unemployment level continues to rise, my Republican colleagues and I have become increasingly concerned with the treatment of taxpayer dollars intended to stabilize our nation’s economic foundation through the Troubled Asset Relief Program (TARP), which Congress authorized under the economic rescue bill.