Rep. Zeldin Statement on Tax Reform Framework Released Today
Washington, DC - Congressman Lee Zeldin (R, NY-1) released the following statement on the tax reform framework, “The Unified Framework For Fixing Our Broken Tax Code,” which was released today by the White House and Congressional Republicans.
“One of the reasons why America is the greatest nation in the world is because we give our citizens the opportunity to work hard and succeed on one’s own merit. However, a burdensome and confusing tax code limits this opportunity. It will only get worse unless we take action to fix it. We need a fair and simple tax code that delivers desperately needed relief for American workers and improves our business climate, creating economic growth and more good paying, private sector jobs.
I want to see a simplification of our tax code where 9 out of 10 Americans are able to fill out their tax return on a postcard. I want to see my hard working constituents keeping more of their paychecks, experiencing a lower cost of living, and being able to save more for retirement. All of this is possible.
I strongly support cutting taxes for individuals and families, reducing the number of brackets, increasing the standard deduction, eliminating unfair double and triple taxation like the death tax and alternative minimum tax, increasing the child care tax credit, and drastically reducing the amount of deductions, credits, and other complicated provisions so we can have a fairer and simpler tax code.
I also strongly support lowering the corporate income tax rate to become more competitive globally and bring back jobs, companies, and liquidity that have left, as well as preventing any more from leaving. This will also spur more private sector job growth and allow our economy to grow faster than our government. Currently at 35%, we have one of the highest federal corporate income tax rates in the industrialized world.
I will continue to focus on making sure this proposal is a win for hard working individuals, families, and job creators on Long Island, where we have one of the highest costs of living in the nation. I will be assessing the impacts of all proposals, including the debate over whether or not, and how, to maintain the State and Local Tax Deduction, to make sure the final proposal is not just good for America, but most specifically, to make sure the final proposal is good for NY-1.”
To read more about why our nation desperately needs tax reform, click here.