Americans' taxes are too high, so we are going to cut tax rates at all income levels and eliminate excessive, costly taxes like the Alternative Minimum Tax and the Death Tax. That means you
get to keep more of your
Our tax code is too complicated. By throwing out special-interest loopholes and consolidating deductions, our plan will make filing taxes so easy that you can use a form as simple as a postcard.
America has one of the worst tax codes in the industrialized world for businesses. By reducing tax rates for businesses large and small, our plan will level the playing field and make America more competitive.
What do you think Congress should do to create a fair and simple tax code?
why do we need tax reform?
In 1986, President Reagan signed into law the single largest reform of the U.S. tax code in our nation’s history. Now—more than 30 years later—we recognize that our current tax code is beyond repair, and it’s clear that simply tinkering with our broken tax code won’t fix these problems.
But don't take our word for it. Here are 31 reasons why we need tax reform.
Our broken tax code is a drag on our economy
Our broken tax code has helped cement the slow-growth status quo of sub-2 percent economic growth. But if- as a result of tax reform - the US economy averages 3 percent growth in the next 10 years, we’d see millions of jobs created and income for a family of four would be thousands of dollars higher.
Americans spend too much money filing taxes
The burdens and complexities of our broken tax come come at a real cost to the American people. Independent estimates show that taxpayers spend a combined $99 BILLION each year complying with the individual income tax - money Americans could otherwise use on what is important to them and their families.
Americans at every income level deserve to keep more of their paychecks
Every hard-earned dollar American can keep from their paychecks and put towards their own American Dream is a dollar that grows our economy. That’s why Republicans are proposing to reduce taxes for all Americans at all income levels.
what does our plan do?
Lowers taxes at every income level so all Americans can keep more of their hard-earned money to save, spend, and invest the way they see fit.
Increases the standard deduction so the vast majority of taxpayers don’t have to deal with the complexity of itemizing.
Repeals the Alternative Minimum Tax so millions of workers, families, and job creators are no longer forced to calculate their taxes twice every year.
Delivers the lowest tax rates in modern history for American job creators of all sizes so they can invest more money in growing their businesses and creating jobs.
Separates wage income from small business income for the first time in history so that small businesses are no longer taxed under the individual side of the code at rates as high as 44.6%.
Cuts in half the tax rates on personal savings and investment so Americans can invest in their local economies and build toward a more financially secure future for themselves and their families.
Eliminates the maze of unfair special interest loopholes that keeps rates artificially high for everyone.
Ends the Death Tax so family-owned farms and businesses can be passed down to the next generation without facing a potentially devastating tax bill.
What do you think about our tax reform plan?
frequently asked questions...
Q1. How will your pro-growth policies improve people’s lives?
More job opportunities in your community.
- Our pro-growth proposals will make America one of the best places on Earth for businesses to create jobs.
- By slashing tax rates for businesses large and small, encouraging businesses to invest in our communities, and leveling the playing field so American businesses can compete and win, it is estimated that our plan will lead to 1.7 million new jobs.
Bigger paychecks to bring home to your family
- Under our plan, businesses will be able to invest more in American workers, rather than sending more of what they earn to Washington.
- According to one study, our plan will raise after-tax income by nearly $5,000 for middle-income families.
Greater financial security for your future.
- By reducing taxes on capital gains, dividends, and interest income, our pro-growth proposals help ensure that workers and families can build toward a more financially secure future.
Healthier economy for the long-term.
- Our pro-growth tax reform proposals are expected to grow the economy by more than 9 percent—a vast departure from the slow-growth status quo over the last eight years.
- Greater economic growth will strengthen our communities, encourage Main Street job creation and investment, and improve the lives of all Americans.
Q2. Will this be a tax break for the wealthy?
The House Republicans' tax reform plan will lower tax rates across the board for individuals and families at every income level. We will also double the standard deduction to help those who earn the least.
Q3. Will this blow up the deficit?
We’re working to ensure tax reform is revenue neutral with economic growth. We will deliver pro-growth tax reform that is bold, balanced within the budget, and built to last over the long term.
Q4. What's wrong with our current tax code?
In 1986, President Regan signed into law the single largest reform of the U.S. tax code in our nation’s history. Now—more than 30 years later—Americans recognize that our current tax code is beyond repair.
Because today's tax code:
Discourages job creation by taking too much from our job creators—money they could otherwise use to hire more workers and grow their businesses.
Drives American jobs, research, and headquarters overseas to countries with more competitive tax codes. The Tax Foundation ranks the United States 31 out of 35 OECD member nations on its competitiveness scale.
Imposes punishingly high taxes on hardworking American families. In fact, 65% of Americans believe federal taxes are too high.
Puts U.S. workers at a worldwide tax disadvantage versus our global competitors. With the highest corporate rate in the modern world and an outdated international tax system, it is more difficult for American businesses to succeed globally and to create jobs here at home.
Destroys opportunities for Americans by favoring foreign workers and products over American workers and products.
Holds back productivity and wage growth by discouraging businesses from investing in American workers and communities.
Contains a maze of special-interest loopholes and deductions that are unfair to hardworking Americans. These loopholes keep rates artificially high for some while giving tax breaks to others.
Encourages businesses to make decisions based on tax breaks instead of what is best for their workers and customers.
Burdens families and job creators with excessive paperwork and compliance costs, creating unnecessary frustration each tax season.
These are just a few of the many reasons why we need tax reform. See 31 other reasons here. It’s clear that simply tinkering with our broken tax code won’t fix these problems. Today, we have a once-in-a-generation opportunity to move forward with bold, pro-growth tax reform to create jobs, grow wages, and vault America back into the lead.