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NTU Applauds Ryan Call for Action on Tax Reform

by Jenn Fedor / /

"Taxpayers across America share Speaker Paul Ryan's urgent call for comprehensive tax reform outlined in today's speech to the National Association of Manufacturers. It would be a major blow to families, businesses of all sizes, our economy, if Congress fails to act," Pete Sepp, President, National Taxpayers Union (NTU) stated.

"Over time, the Tax Code has become mired in complexity, loopholes, and inefficiency as Washington has manipulated these policies to dole out favors with one hand and punish targeted groups with the other. Public officials must reject this status quo, because standing still means falling further behind. Compliance burdens will worsen, more large companies will move overseas, more small businesses will fail, and more of our competitors around the world will embrace tax reforms of their own. It is time to recognize this reality. Whatever differences remain to be resolved, lawmakers can and must coalesce around reforms that let taxpayers keep more of what they've earned, simplify the task of tax filing, and make our country the best place to do business. As a broad-based coalition of two dozen organizations recently noted, that starts with lower rates, a territorial system, and full expensing.

"Our future prosperity rests on our ability to focus on the broader goals that we all share. Speaker Ryan's words today should encourage us to rededicate ourselves to the transformational opportunity that tax reform represents … right here, right now."