Time For Tax Reform


Daily Local News

October 2, 2017 

Rick Loughery, Chairman,  PA Young Republicans | @Rick_Loughery

American businesses have been patiently waiting for leaders in Washington to produce tax reform, but patience is growing thin. It is time for elected officials to put the American people before their differences and produce a fail-proof plan to help America succeed. Let’s not forget, Republicans were voted into power under promises of tax reform and it would be very disappointing to see the party reputation diminished because they could not to deliver.

The average small-business owner in America is suffering under a corporate tax rate as high as 40%, after state and local taxes are combined. Coupled with the fact that tax code is nearly 75,000 pages long in which only a trained accountant can navigate, small-business owners are given the choice between wasting countless hours trying to do it alone or hiring an accountant. It is time for our legislators to produce a tax reform bill that simplifies the tax code, sets a fair business tax rate, and closes the confusing loopholes that only big corporations have the means and experience to exploit.

Americans deserve more jobs and higher wages. Based on a study released by the Tax Foundation, tax reform is estimated to gain 68,777 jobs and $5,254 in after-tax income for median households Pennsylvania alone. The only way to do this is by producing a tax reform bill by the end of the year. I’m proud that Senator Toomey has been a leading voice on Capitol Hill to get tax reform accomplished. I hope his congressional colleagues, including Senator Casey and the entire Democratic delegation, decide to be a part of the solution and end their obstructionary tactics. If our Representatives cannot come together to help the American people, the only solution is to elect someone that will.