This week, the House passed two pieces of legislation to tackle some of the problems with our tax code. H.R. 6169 the Pathway to Job Creation through a Simpler, Fairer Tax Code Act would clear a pathway for comprehensive tax reforms in 2013. In the mean time, the House passed H.R. 8 the Job Protection and Recession Prevention Act, which extends all of the 2001 and 2003 tax cuts for another year. That way, the American people do not suffer with higher taxes while Congress works on a plan to truly reform our tax code. Congressman Westmoreland supported both bills.
“Our tax code has gotten so complex that the average person can’t file their own taxes without help,” stated Westmoreland. “And it’s only getting worse. We have got to do something to simplify our tax code to make it easier to understand and to make it fairer for all Americans. That’s why I have been a long-time supporter of the Fair Tax. It is the best way to eliminate a lot of the confusing tax code that we have now and replacing it with a tax that ensures everyone contributes fairly. And now that we have passed H.R. 6169, it paves the way for the House to have a real discussion about the Fair Tax and hopefully finally pass this popular bill.”
If Congress doesn’t act, every American who pays income taxes will see a dramatic jump in their overall tax burden. For example, a family of four making $50,000 a year could see their tax burden jump to five times their current rate. The American people will not just see an increase in their income tax. Dividend taxes, capital gains taxes, and other taxes would be increased – some to two and three times their current rate – as well as income taxes.
“It would be absolutely irresponsible to raise taxes on any Americans at a time when our economy is still struggling,” stated Westmoreland.
“But you don’t just have to take my word for it. Prominent Democrats are joining House Republicans in calling for a full extension of these tax cuts. That’s because they agree with Republicans that when more than 20 million Americans are currently unemployed or underemployed and the economy is still trying to recover, raising taxes on families and small businesses will only prolong our problems. That’s why I cannot support legislation that does not extend all of the 2001 and 2003 tax rates.”
Both bills passed the House with bipartisan support. Congressman Westmoreland strongly encourages the Senate to pass these two pieces of legislation. In addition, House Republican Leadership has announced the House would return from their August District Work Period if the Senate followed the House’s lead and passed legislation to replace the sequester requirements that are threatening our national security and to fully extend the 2001 and 2003 tax cuts.
In response to the looming tax hike, Congressman Westmoreland will release a weekly column during the five weeks during the August District Work Period highlighting a different tax that could be increased and the impact that would have on American families and businesses. He encourages everyone to tune in to his website every Thursday over the next five weeks to learn more.