Dear Representative:
On behalf of the 362,000 members of the National Taxpayers Union (NTU), I urge you to support the Roadmap for America's Future proposal, introduced by Representative Paul Ryan as H.R. 6110. This broad legislative package would address many of the major fiscal challenges faced by our nation in a pro-taxpayer, pro-growth manner.
The looming problem of unsustainable government spending growth is well established. To give just one example, by 2013 Social Security and Medicare's combined unfunded liability will grow to $54 trillion, or $474,000 per household. The Roadmap for America's Future is a comprehensive approach to ensuring all Americans have the opportunity to flourish in the international marketplace without being held back by unbearable financial burdens from generations past. Here are some of the bill's main provisions:
- Entitlement Reform: Makes Social Security solvent and puts Medicare and Medicaid on a sustainable path (according to the Congressional Budget Office) by instituting means-testing and by creating medical and retirement savings accounts. States would be given more flexibility to tailor Medicaid programs to better fit their populations.
- Spending Reform: Limits federal spending expansion by prohibiting outlays from increasing faster than the American economy can sustain. A supermajority vote of Congress would be needed to raise tax revenues above 18.5 percent of GDP.
- Tax Reform: Creates a simplified alternative to the current individual income tax system. By using just two tax rates (10 and 25 percent) and eliminating tax preferences, the optional system would promote simplicity and transparency. The alternative minimum tax would be repealed, and taxes that target savings (like estate, capital gains, and dividends taxes) would be eliminated. Furthermore, individuals and families would receive a refundable tax credit with which to purchase health care coverage.
Notwithstanding other approaches that may be necessary, NTU has endorsed many of the above reforms when they've been presented via individual bills or amendments. We're excited that these common-sense ideas have been combined into one comprehensive package that Members can support with confidence. These changes may be far-reaching, but they're fundamentally necessary if we are to keep this country on a firm fiscal footing. I encourage you to visit www.AmericanRoadMap.org to learn more about how Congress can take positive action now.
Sincerely,
Kristina Rasmussen
Director of Government Affairs