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Congressman McHenry weekly update
Story Date: 4/20/2015
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Source: US Rep. Patrick McHenry (NC-10TH), 4/17/15
Reining In IRS Abuse & Repealing the Death Tax
This past Wednesday marked one of the most hated days of the year for many Americans, tax day. Our tax code is too long, too confusing, and causes all of us to spend way too much time and money trying to decipher it. With tax day in mind, House Republicans this week passed a number of bills that address IRS abuse. Among them was legislation blocking companies that are delinquent on their taxes from being contracted for work by the federal government. Here is a full list of these bills.
The House also passed legislation to fully repeal the death tax. This job-killing tax hits small and family-owned businesses just as they are laying a loved one to rest. It is unfair and is nothing more than an attack on the hard work and entrepreneurial spirit of Americans. The Senate has passed similar legislation and it is my hope President Obama will join us in repealing this tax.
While comprehensive tax reform that simplifies our tax code and reduces rates across the board remains my ultimate goal, the legislation passed this week are important steps to get the government off our backs and out of our pockets.
Proud to Support
Among the most-lasting and damaging impacts of the financial crisis has been the inability of young, low, and moderate income people to access the credit they need to purchase a home. Home ownership is a big part of the American dream but often mortgages are not available to these folks. This week the House took a step to change that by passing H.R. 685, the Mortgage Choice Act of 2015. This bill would remove an onerous, Washington-created regulation that makes it harder for those that most need credit to get it.
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