Schock Continues Work Toward Comprehensive Tax Reform
“The System is Too Costly, Too Complex and Too Time Consuming for Individuals and Employers” Schock Says
Washington, Apr 17 -
Congressman Aaron Schock (R-IL), a member of the Ways and Means committee, the chief tax writing committee in the House, issued the following statement today on the need for comprehensive tax reform as millions of American’s rush to file their federal, state, and local taxes.
“Today is a costly reminder that the U.S. tax code is severely outdated and in serious need of repair. The system is too costly, too complex and too time consuming for individuals and employers.
“According to the National Taxpayers Union, individuals will spend an estimated $228.4 billion in compliance cost for tax software, tax preparers, postage, and other out-of-pocket costs related to filing their federal income tax. This is a costly burden on top of their tax obligation.
“The House Ways and Means committee has already begun laying the ground work for comprehensive tax reform by holding over a dozen hearings since last year. While the House has taken the initiative to reform the tax code, the Senate and Administration have yet to make this issue a priority. Instead they are spending time on the so-called ‘Buffet Rule,’ which would pay for a minuscule 11 hours of the President’s proposed budget.
“Reforming the tax code is a commonsense and essential part to growing the economy and providing the environment job creators need to have the confidence and certainty to expand their businesses and hire new employees.”
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