The U.S. tax code is over 4 million words long, riddled with complexities and loopholes that have been added to the code since the last rewrite, which was over 25 years ago. Our burdensome tax code is holding our economy back. The United States has the highest corporate tax rate in the industrialized world, and The World Bank ranks the U.S. 62nd on the ease of paying taxes in its Doing Business study. It is so difficult for individuals to pay their taxes that nearly ninety percent of Americans either purchased a computer program, or hired a tax professional in order to comply with our current code.
Studies have shown that reforming both our corporate and individual tax code has the potential to unleash economic growth and job creation. The Ways and Means Committee is working to make the U.S. the most competitive tax jurisdiction in the world to unleash American innovation. By closing loopholes and lowering rates, we can create a tax policy that is simpler, flatter, and fairer for everyone.
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The Tax Cuts and Jobs Act is a once-in-a-generation opportunity to cut taxes, increase take home pay, eliminate loopholes, and bring jobs back to the U.S.
Washington, D.C. — Today, House Speaker Paul Ryan named Republican lawmakers to serve on the House-Senate Conference Committee for the Tax Cuts and Jobs Act. Representative Roskam (IL-06) was selected as one of five members of the Ways and Means Committee to work with members of the Senate to reconcile the respective tax bills and present a final version for a full vote.
Regarding the appointment, Rep. Roskam released the following statement:
This tax deal will make America more prosperous
By: Editorial Board
Washington, D.C. — Today, Republican Members of the Illinois Congressional Delegation responded to letters they received last week from Senators Dick Durbin and Tammy Duckworth concerning tax reform and the impact on middle-income families.
The following letter was sent by U.S. Reps. John Shimkus (IL-15), Peter Roskam (IL-06), Randy Hultgren (IL-14), Adam Kinzinger (IL-16), Rodney Davis (IL-13), Mike Bost (IL-12), and Darin LaHood (IL-18):
DuPage County, IL – Today, the House of Representatives voted to pass the Tax Cuts and Jobs Act (H.R. 1), 227-205. Representative Peter Roskam (IL-06), who voted in favor of H.R. 1, also serves as the Chairman of the Tax Policy Subcommittee on Ways and Means and has taken a leadership role in crafting this legislation. Rep. Roskam released the following statement:
Roskam on tax reform: 'Either get this done' or it 'will be the lost opportunity of a lifetime'
By: Katherine Skiba
DuPage County, IL – Across Illinois’ 6th Congressional District, small business owners are weighing in on what tax reform means for their businesses, their employees and their families. Representative Peter Roskam (R-IL), Chairman of the Tax Policy Subcommittee, understands the importance of this legislation and the impact it will have on middle income families and small businesses in his district. “We have taken a critical step towards putting more money into the pockets of Americans.