A Quote by Mike Simpson
Finally, the House is working to require a comprehensive federal review of IRS regulations with a follow-up report to Congress on possible actions to reduce the tax paperwork burden imposed on small businesses.
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In the U.S. Senate, in the short term we need to reduce the tax burden on hard working individuals, families, and small businesses.
We in Congress need to do everything possible to encourage and cultivate small businesses, so that they can expand and create jobs. Far too often, however, U.S. small businesses are impeded by government paperwork and bureaucratic red tape.
Congress is supposed to fund the IRS, and it has been steadily reducing the number of auditors and tax collectors the IRS has at the very time that the tax system has become vastly more complicated. And of course America continues to grow, so there's an increasing number of tax returns coming in. The IRS responds by doing exactly what Congress expects of them. That shouldn't surprise anyone. All bureaucracies do what they are told.
Congress can protect small businesses by providing effective oversight over SBA policies and make sure they take into account the needs of small businesses while also protecting taxpayer dollars. Congress also needs to make sure that new banking regulations do not make it more costly for community banks to lend to small businesses.
The federal government needs to get off the backs of small businesses and let the private sector grow and create jobs instead of harnessing it with onerous regulations and a repressive tax code.
The federal government has gone too far on many nonessential regulations that are harming small businesses. Employers are rightly concerned about the costs of these regulations - so they stop hiring, stop spending, and start saving for a bill from the federal government.
We've imposed a hiring freeze on non-essential federal workers. We've imposed a temporary moratorium on new federal regulations.
Let's abolish the IRS, let's eliminate income tax, let's eliminate corporate tax, let's balance the federal budget, and if we need a tax, it can be one federal consumption tax.
Part of any solution to get our economy going should include steps to free up our small businesses by peeling back unnecessarily burdensome regulations, ending the continual threats of tax hikes, and addressing the cloud of federal debt that hangs over our economy.
And what's interesting, and I don't think a lot of Americans understand this fact, is that, one, most new jobs are created by small businesses; two, most small businesses pay tax at the individual income tax, or many small businesses pay tax there.
Anybody who is familiar with the historical data from the IRS knows that raising income tax rates will likely actually reduce federal revenues.
As chairman of the House Ways and Means Committee - the chief tax-writing body in Congress - I understand that true comprehensive tax reform is tremendously difficult.
Those who want low taxes and healthy job creation know that an unnecessary dollar going to these unions is a dollar that cannot reduce the tax burden on homeowners, small businesses, and job creators.
The day after Republicans won solid majorities in the House and Senate, House Speaker John Boehner and Senate Majority Leader-to-be Mitch McConnell outlined priorities for the newly elected Congress. High on the list is fundamental tax reform. In addition to overhauling the federal tax code, however, Congress should rein in the Internal Revenue Service.
We should scrub all of our federal regulations to find responsible ways to make life easier to small businesses, i want to be a small business president.
There are over 170,000 pages of regulations in Washington, D.C. I want to streamline the rules in the federal government to basically allow businesses to grow without fear of burdensome federal regulations. That's a passion to me, regulatory reform.
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