Our tax system is in need of serious reform and simplification. If done properly, pro-growth tax reform will make the United States a competitive place to do business and expand opportunity for all Americans. Simplifying the code, lowering marginal tax rates, and eliminating special interest loopholes will promote domestic economic growth, create jobs, and raise wages.
Our country's current corporate tax rate of 35 percent is one of the highest in the developed world, far higher than the average 25 percent rate of our economic competitors. Without a significant reduction in business tax rates, the U.S. will never be the best place to invest and create jobs. And with the increasing international mobility of capital, a significant burden of business taxes now falls on workers, undermining wage growth.
The best economic stimulus for the middle class, who have seen their wages stagnate and tax bills rise over the last decade, is a well-paying job. Tax reform will help deliver on this goal with its focus on lower rates, investment, and growth.
Varney & Co.: The deduction for state and local taxes really amounts to a subsidy by low taxed states for high taxed states.
Mornings With Maria: The vast overwhelming majority of individual taxpayers, families and individuals, they're going to see a tax cut. That's a fact.
Bloomberg TV: At the end of the day, I want to make sure we pass really pro-growth tax reform that lowers taxes for middle income familes.
Morning Bell: The vast majority of tax filers are going to be paying less in taxes to the federal government.
Fox & Friends: The Senate's tax proposal will provide tax relief for middle income working class Americans.
Squawk Box: Tax reform will allow our businesses to compete on the international stage again.
Bloomberg TV: The Senate's Tax Cuts and Jobs act, and how it will reduce our deficit and get our economy booming again.
Cavuto Coast to Coast: The Tax Cuts and Jobs Act will put money back in the pocket of middle class Americans, and end the policy of forcing Pennsylvanians to subsidize high taxed states.
Morning Joe: I shared my thoughts on meeting with President Trump to discuss tax reform.