Cong. Roger Williams: Calling for True Tax Reform on Tax Day

Texas Insider Report: WASHINGTON, D.C.– AUSTIN, TEXAS – Congressman Roger Williams (R – Austin), author of the tax reform plan, Jumpstart America, today, on Tax Day, released the following statement.

“April 18 is a day when Americans of all economic backgrounds are reminded how complex and unfair our tax system really is. The irony that hardworking families have to pay money to figure out how much money to pay Uncle Sam goes without humor. For three decades, lawmakers have called for reforming the tax code while taking no true action. We’ve seen loopholes and deductions created on behalf of special interests, but at the expense of Main Street America. As this Congress and administration look to tackle tax reform in the coming months, I hope and pray Washington starts to work for the families who cannot afford to contribute money to politicians or send lobbyists to DC. I encourage my colleagues and my constituents to take a look at my plan, Jumpstart America, which will benefit families, grow our economy and put more people to work.”

On April 6, Williams introduced H.R.2078 which will do the following:

  • Cap Individual Tax Rate to 20% and 30% for those making more than $1 million/ year
  • Lower Corporate Tax Rate to 20%
  • Make Permanent a Repatriation Tax of 5%
  • Preserve LIFO Accounting
  • Lower Capital Gains and Dividends Tax Rate to 15%
  • Allow for 100% Expensing of Fixed Asset Purchases
  • Implement Payroll Tax Cut of 2% for Employee and Employer

Repeal Inheritance Tax

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