Other than at the IRS, no job is ever created by raising taxes. The current patchwork of temporary policies for individuals, sectors, and areas of business creates uncertainty for Americans and stifles investment by our entrepreneurs and business owners. We need more efficient and effective programs that invest in a better future, not higher taxes. Let’s spend what we tax more wisely
The generations that follow us deserve a solid footing—not a country drowning in debt because of expansions of entitlement programs and mandates. The fact is, we cannot prosper if government continues to overspend. My mission is to stop wasteful government spending, bring measures that help create well-paying jobs and shrink our debt so we can build a healthy economy and secure the economic future of America’s children.
More on Tax Reform
Yesterday evening I discussed the math behind tax reform and why Americans should expect a significant increase in economic growth. According to projections done by the Congressional Budget Office (CBO) labor force participation is increasing and with the passage of our historic tax reform legislation it will surpass projections. Groups with historically higher unemployment rates across the board are seeing higher employment rates bolstering the economy.
We actually have a birth rate crisis in the United States. We're not having enough children and programs like social security and medicare are pay as you go programs. So, in about 18-20 years we don't have enough young workers moving into the workforce. She was able to take that little statistic in our conversations, turn it around and say "heres another reason we should make a family friendly tax code."
I believe the tax bill, the tax reform, is fair to individuals. It is simpler. It is going to also deal with the hemorrhaging we have of corporations, and these are big corporations, leaving our country, hiding their profits overseas and moving their expenses to the US...This is not a win for Republicans - it is a win for society.
I believe that we are faced with the opportunity of a generation. We have both the chance and the immense responsibility of rewriting our broken tax code to spur economic growth, make the tax system fairer for the average American family, and more competitive for our small businesses.
...The difficulty for many of us on the Ways and Means Committee as we are grinding out, making the math work... If you look at things like the tax foundation and other non partisan groups, this is going to be really good for the economy. It is also going to be really good for the hard working middle class.
We desperately must have economic growth and tax reform is one of the ways you get there.
"This tax reform is so much more than just tax cuts. This is designed to create economic growth. As a society, we have trillions and trillions of unfunded liabilities and promises we have made to our seniors and others, and we do not have the money. The only way we can get close to it is we must grow economically and that means American businesses have to stop leaving our country and moving their headquarters overseas. This demonstrates that by fixing the problems in our tax code. Businesses from around the world are coming back home. It's a great message."
Ernst: Leigh Claffey, Press@Ernst.Senate.Gov, 202-224-3254
Schweikert: Ashley Sylvester, Ashley.Sylvester@mail.house.gov, 202-225-2190
Schweikert Unveils House Version of SQUEAL Act
Follows Senator Joni Ernst's Introduction Earlier in the Week