Like many Washingtonians, I believe our tax code is overly complex and too often leads to unfair results. The U.S. tax code is long overdue for comprehensive reform, and as a member of the tax-writing House Ways and Means Committee, I have called on my colleagues to work in a bipartisan manner to bring our nation’s tax policies into the 21st century.
Comprehensive tax reform is about creating policies that are fair for all Americans, and providing permanent solutions that give working families and businesses the ability to plan for the future. Tax policy should be about creating sustained, long-term growth by strengthening the middle class. Through a modernized tax code, we can help ensure businesses and individuals invest resources here in America, encouraging job creation and innovation.
Current U.S. tax law undermines the competitiveness of domestic businesses and is out of date with the way the world works today. Congress should work to simplify our tax code by eliminating inefficient and unfair tax breaks and subsidies that don’t make sense in today’s global economy. Any time our federal government offers a tax break or subsidy, we should consider it as a budgetary expenditure, and evaluate whether we are getting an adequate return on investment. Tax provisions that are no longer worthwhile should be eliminated.
That’s why I have supported efforts that provide tax relief for the middle class such as the Earned Income Tax Credit Improvement and Simplification Act, which would expand eligibility for the EITC to individuals between ages 21 and 25 who are not full-time students. I’ve also cosponsored the Expand American Educational Opportunity Act, which would help make college more affordable by increasing the portion of the AOTC that is refundable and the Child Tax Credit (CTC) Improvement Act, which would index the value of the CTC with inflation and increase the value of the credit to $3,600 for families with children under age 6.
In order to help small businesses afford the cost of health coverage for their workers, I authored the Small Business Tax Credit Accessibility Act, and continue to push for passage of this common-sense legislation.
We need bipartisan solutions that simplify our tax code by helping the millions of hardworking individuals and families across America who are just looking for fair treatment, a system they can navigate and an end to special interest tax breaks. I will continue working with both sides of the aisle to achieve these goals.