American individuals and businesses spend billions of dollars and hours every year filing their tax returns thanks to a broken and outdated tax code full of regulations and loopholes.
That’s time and money better spent growing the economy and creating jobs.
How do we lift that burden? My answer: Enact FairTax legislation.
The FairTax replaces the current federal tax code with a national sales tax on all goods and services sold in the United States.
Federal income taxes, FICA payroll taxes and the estate tax would all be eliminated. The IRS would no longer be needed because states would be in charge of collecting all revenue.
And the FairTax protects the poor and treats everyone equally: no exemptions, no exclusions and no advantages.
With a fairer, simpler and more competitive tax code, citizens in Northeast Florida and across the country will be able to keep more of their hard-earned money to use as they see fit.
That’s a goal worth reaching and one I have long supported.
So far 72 other members of Congress have joined me in co-sponsoring current legislation (H.R. 25). Rest assured, I will fight to lengthen that list as we move down the road to enacting a FairTax.
If you are reading this and you know a member of Congress who is not on the bill, call them and encourage them to join the fight.
In the meantime, as we move into tax season, know that there are federal resources available to help prepare and file your tax returns. If you earned $62,000 or less in 2015, you qualify for the program known as Free File.
It is free and made available by industry-leading tax software companies in partnership with the IRS and aims to help in the preparation and electronic filing of your federal tax returns.
It’s good to know that solutions can be reached when the government, private sector and community organizations work together.
Free File is the perfect example.
Since its debut in 2003, more than 40 million people have used Free File, and we hope to grow that number.