Sen. Cruz: We Must Deliver on Our Promise to Reform Our Tax System, Create More Jobs, Increase Wages, and Expand Opportunity for Millions of Americans
GOP tax proposals represent encouraging start to putting money back in Americans' pockets
WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) today issued the following statement regarding the tax reform proposals released by President Trump, the Senate Finance Committee and the House Ways and Means Committee.
“The priorities laid out today by Congressional leadership and the White House to reform our country’s broken, burdensome tax code are incredibly encouraging. There are numerous positive elements in the current outline for which I have long advocated, from lowering and flattening rates for individuals and businesses, to eliminating the death tax and the alternative minimum tax, to allowing for expensing of capital investments, to making reforms that will bring American jobs and companies back to the United States from overseas.
“Specifically, allowing Americans to file their taxes on a postcard is a home run proposal, one that I have championed for many years, and one that is essential to getting us on a path that will allow us to once and for all abolish the IRS.
“The principles that should govern our tax reform debate are economic growth, fairness, and simplicity. Economic growth must be our top priority, so we can make it easier for the single mom to pay her monthly mortgage, make it easier for the factory worker to pay for his child’s education, make it easier for families to make ends meet and small businesses to expand and create jobs.
“As we move forward, we must be bold. We should pursue a flatter, fairer rate for Americans at all income levels – ideally one low, simple, flat tax. We should pursue the repeal of Dodd-Frank. We should pursue long term reforms, over a 20-30 year window, not just 5-10 years. And we should pursue unapologetic tax cuts. If tax reform is revenue neutral, it is not a tax cut. A true tax cut is the only way to spark economic growth, to create booming GDP, and to reduce our debt and deficit.
"I stand ready to work with my colleagues in Congress and the administration so that we can move forward with this important debate and finally deliver on our promise to reform our antiquated, bureaucratic, and ineffective tax system, create more jobs, see wages rise, and expand opportunity for millions of Americans.”
Watch a video highlighting Sen. Cruz’s priorities for fundamental tax reform here.
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