Earlier this week, we welcomed ND Congressman Kevin Cramer to The Chamber for a special discussion on tax reform. Prompted by talks at the federal level, this roundtable allowed local business leaders and Chamber board members to learn the specifics and weigh in with their questions and concerns.
The Unified Tax Reform Framework follows a plan put together by the Trump administration and Congress. It has four main goals: to make the tax code simple, fair and easy to understand; give American workers a pay raise; and level the playing field and make America the jobs magnet of the world.
Cramer explained a few highlights of the plan, which include shrinking the current seven tax brackets into three for individuals and families, repealing the death tax and alternative minimum tax, creating a lower tax rate and structure for small businesses, allowing expensing of capital investments, and more.
“Part of The Chamber’s public policy agenda is to connect businesses with political leaders for healthy discussion,” Chamber President & CEO Craig Whitney said. “I think our event did just that, and our members were able to walk away with more information on the issue and feeling heard from our leaders in Washington. The Chamber was the perfect venue for discussing reforming the tax code. Ninety percent of our members are small businesses. If this is to go through as discussed, it could be the largest tax cut in the history of our country.”
“This tax reform has had the advantage of going second,” Cramer said. “The failure of health care [reform] has a lot to do with being first and not having the luxury of time that tax reform has had.”
He also explained their idea for “postcard” tax filing – an idea that with such a simplified tax system, up to 96% of Americans could complete their taxes on a sheet the size of a postcard. “These 14 lines could provide everything the IRS would need to process [your return],” he said.
Thank you to AM 1100 The Flag for broadcasting the meeting live statewide during Scott Hennen’s show, What’s On Your Mind.
For more information on the tax reform plan, visit www.fairandsimple.gop.
Sorry, the comment form is closed at this time.