Explaining how the tax-writing committee plans to overhaul the tax code this year via the GOP’s Blueprint, Brady, Republican of Texas, said at an event held by the Financial Services Roundtable in Washington that the plan involves the following:
“Redesigning” the tax code so that American companies “large and small” can compete anywhere in the world;
Fairness and simplicity for families and individuals that allows 95% of Americans to file their returns on a simple post card style system; and
“Busting up” the IRS to redesign it into a 21st century organization with a singular mission — customer service centered around three units: businesses, individuals and to dispute resolution.
Acknowledging that “it is politically difficult” to enact tax reform, the Blueprint plan does not involve merely “wringing money” out of taxpayers, “which is what we have today; we’re proposing a tax code built for growth,” Brady said.
“Tax reform only happens once in a generation … It may not happen again in another generation. It is not enough to simply tweak a few things in the tax code and call it a day. We’re going very bold on both the business and individual reforms so that we can grow this economy in a significant way and give people more control.”
Help FAIRtax Get 'ON the AIR' in 2017
Help fund our 2017 media blitz. NOW is the time!