By Cong. Randy Neugebauer
T
exas Insider Report: Washington D.C. In its annual report to Congress the IRS Office of Taxpayer Advocate found that 9 out of 10 Americans rely on outside services to prepare tax returns and
spend more than 6.1 billion hours to complete their tax filings. Thats because our tax system is filled with deductions credits and exemptions that complicate
how families and businesses can report their income and calculate their tax responsibility.
Some of these tax policies are meant to advance social goals rather than simply collect revenue.
Its clear our tax system has become inefficient; it wastes time and resources in our economy and in Americas small businesses. I believe the solution is to overhaul the tax code by reducing the exemptions credits and deductions that make our system so complicated.
I am glad the report advises an overhaul of the tax code and Ill work to create a simpler fairer system for taxpayers.
Debt Ceiling Debate
Sometime next month Congress will be faced with another decision to raise the debt ceiling. Before I would even consider voting to increase the debt ceiling I must see significant and immediate spending cuts that put us on the path toward fiscal solvency.
We must make the tough decisions to cut government spending. Our debt is already larger than the entire U.S. economy and it continues to grow every second. Cutting spending is the only way to stop the cycle of taxing spending and borrowing which will severely limit the opportunities for future generations.
Earlier today President Obama said that we must raise the debt ceiling so that the government can continue to pay its bills. However these bills" that he is referring to are the direct result of runaway stimulus and entitlement spending that he signed into law.
Its time President Obama and Senate Democrats realize that the only way to get out of our debt problem is by dramatically changing the spending attitude in Washington and reducing our debt so our children and grandchildren do not have to worry about their future in this country.
RSC Appointment
I am a member of the Republican Study Committee (RSC) a group of House Republicans that works to advocate a conservative and small-government agenda in the House of Representatives. Chairman Steve Scalise announced the RSC task force chairs last week and I was honored to be named the Financial Services Working Group Chair.
For the 19th District of Texas this means that I will be able to advocate for the issues that are important to West Texans like mortgage lending practices and regulations that affect how you bank.
I look forward to working with my colleagues to help shape policy and develop solutions that will get Americans back to work and get our economy back on a sustainable path. Visit the RSC website to learn more.
