Ways and Means Chairman Kevin Brady
Texas Insider Report: WASHINGTON D.C. With mind-numbing complexity and tax rates as high as 40 todays broken tax code can make it incredibly difficult for our nations small and medium-sized businesses to succeed grow and create jobs in our communities. Heres how our
unified framework for tax reform will lift these burdens off our Main Street job creators and the millions of Americans they employ:
More Jobs
- 25: The hard-earned business income of our Main Street job creators will be taxed at no more than 25 the lowest tax rate on small business income since before World War II. With this tax relief they will be able to keep more of their earnings to grow their business hire more people and give their workers a raise.
- Zero 12 25 35: Lower individual tax rates for small business owners their workers and their families will give all Americans the freedom to keep more of their paychecks to use on what is important to them.
Fairer Taxes
- Eliminating the Alternative Minimum Tax (AMT): Delivers simplicity fairness and certainty to millions of families and job creators who will no longer have to deal with the AMT a feature of todays broken tax code that forces many taxpayers and businesses to calculate their taxes twice every year.
- Repealing the Death Tax: Helps family-owned businesses and family farms continue into the future by ensuring they will no longer face double or even triple taxation when small business owners pass down their lifes work to the next generation.
Bigger Paychecks
- Unprecedented expensing of business investment: Helps unleash the growth of jobs productivity and paychecks by allowing small businesses to deduct more of the cost of new equipment that improves operations and enhances the skills of their workers.
- Preserving deductibility of interest expense: Small businesses will be able to write off the interest on loans that help these Main Street entrepreneurs start a business hire workers and increase paychecks.
CLICK HERE for more information on how our unified framework will help Main Street job creators workers and families throughout the nation.
