|
US Sen. Richard Burr : The time for tax reform is now
Story Date: 10/2/2017
| |
Source: US Sen. Richard Burr (R-NC), 9/29/17
This week, a group of Congressional and Administration leaders released a framework to reform our broken tax code. This is a once-in-a-generation opportunity to bring relief to those who need it most by simplifying the code, promoting economic growth, and putting money back in the pockets of millions of North Carolinians and hardworking Americans. I believe the time to reform our broken tax code is now.
The basic structure of our tax system was put in place in 1913, with the last significant reforms signed into law before the World Wide Web was even created. The shifts in technology and our economy that have occurred since the last major tax overhaul are nothing short of astounding. Not only does our tax system need to be updated to better reflect these realities, but it also needs to be updated to make America competitive globally, with the best jobs and economic opportunities located within our nation. The outdated system we have now is unnecessarily costly, complicated, and burdensome for families and small business owners. We owe it to them to fix it.
We must also update the tax code to reflect today’s family needs to help them save, afford child care and higher education, and prepare for the future. As tax reform unfolds, I will be fighting in the Senate for tax-advantaged savings accounts for Americans with disabilities, improvements to college savings plans, and ways to make childcare more affordable by enhancing the Dependent and Childcare Tax Credit. These are values I’ve always supported, and will continue to, as the Senate rolls up its sleeves to deliver tax reform.
I believe this is a great opportunity to make tax reform work for North Carolina families while putting America on a path to prosperity for future generations.
|
|
|
|
