The fiscal cliff is something we must address by extending current rates in the near term. But it also allows us to have a debate about tax reform and the proper size of government. Does anyone really believe that the current tax code is desired by and beneficial to job creators and families? A tax code that requires an army of tax professionals to navigate does no one any good.
Yes, loopholes should be closed. Yes, most deductions will be eliminated. But with our economy slowly plodding along, families struggling to keep their heads above water, and American companies at a competitive disadvantage, I can’t think of a better time or reason to enact bold tax reform that lowers rates, simplifies the code, and brings clarity to a tax system that has grown out of control.
There is no doubt that Congress must avert the fiscal cliff. If, however, the goal continues to be punting the problem for another year, we will have missed a clear opportunity to make reforms that will help American families and businesses get back on the path to prosperity.
A lifelong conservative, Congressman Kenny Marchant is committed to the values of personal responsibility and limited government. Congressman Marchant has a strong record of: fighting for lower taxes; eliminating wasteful government spending; bringing accountability and transparency to government; supporting free markets and opposing bailouts; securing our borders and enforcing our immigration laws; and protecting human life in all its stages.