68 Policy Leaders Issue Letter to Congress Urging Comprehensive Tax Reform Now

ALEXANDRIA, Va., Feb. 10, 2015 /PRNewswire-USNewswire/ -- National Taxpayers Union (NTU) President Pete Sepp and a broad group of 68 policy leaders and advocacy groups from across the country, today wrote to Members of Congress urging them to draft and pass a broad and permanent tax reform bill that simplifies the tax code to create jobs and drive U.S. competitiveness.

"Americans elected this new Congress with a mandate to get things done to spur the economy, positioning it for long-term growth and creating more well-paying jobs," said Pete Sepp, President of the National Taxpayers Union. "Nothing would do more to accomplish these goals than replacing our broken tax code with a fairer, simpler alternative."

Sepp concluded, "President Obama's unwieldy proposal for trillions in new taxes and higher spending is not going to help the American people – it's more of the same. For the sake of our nation's future, Congress should set aside partisan rancor and instead set about the task of enacting comprehensive tax reform this year." 

The day before the mid-term elections, Public Opinion Strategies released a poll showing overwhelming bipartisan support for overhauling and simplifying the tax code, including 95 percent who agreed that "the next Congress needs to update the tax code so that it works better for today's families and businesses."

Today's letter, spearheaded by NTU, encourages Members of the 114th Congress to work together to reduce the massive burden the current tax system places on the economy ($224 billion in compliance costs alone, according to an NTU study) – thereby empowering American taxpayers, businesses, and job creators.

"America's tax code is an expensive, growth-sapping disaster," said R Street Institute's Executive Director Andrew Moylan. "As the National Taxpayers Union's research has shown, simply complying with the tax code cost Americans more than $220 billion last year. That's about as much as we spent on the Departments of Education, Veterans Affairs, State, and Homeland Security combined. The time has come to demolish this shaky foundation and build a new code from the ground up."

"The current outdated, onerous and cumbersome tax code stifles U.S. innovation and hamstrings entrepreneurship and job growth," added Brett Healy from Wisconsin's John K. MacIver Institute. "Small businesses and individuals see some of the highest rates and most complicated tax laws. As the backbone of America, small businesses and individual families should be afforded every opportunity for a fair and simple tax code."

Andrew Hanson, Associate Professor of Economics at Marquette University said, "It's an ignominious distinction to be the country with the highest statutory corporate tax rate of all developed countries, and no good has come of it. In the last 30 years literally every single country in the developed world has cut its corporate tax rate save for the U.S.  We cannot hope to attract and retain capital investment if we do not modernize our corporate tax code."

Rea Hederman, Executive Vice President and Chief Operating Officer of the Buckeye Institute said, "America lags behind the rest of the world in fixing its tax code, many countries have already acted to modernize, particularly on businesses. With the highest corporate tax rate in the world, businesses feel the pressure to either move abroad or keep income overseas. Ohio has a competitive manufacturing base and willing workers, but the anchor of the federal tax system weighs down our companies."

Groups signing on to the letter also include 60 Plus Association, Institute for Policy Innovation, Independent Women's Forum, Americans for Tax Reform, Hoover Institute, and many more public policy leaders.

The complete letter was featured as a full-page ad on page seven of Politico today. The full list of signatories can be viewed online at www.NTU.org.

"The Voice of America's Taxpayers", National Taxpayers Union is a nonpartisan, nonprofit organization working for lower taxes, smaller government, and economic freedom at all levels.

SOURCE National Taxpayers Union

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http://www.ntu.org