Right now, the current federal tax code is a convoluted and broken mess. Since 1986, the tax code has grown more than 70,000 pages, and in the last decade alone, more than 4,400 changes have been made to the code. It is known that 90 percent of Michigan families and small business owners today either pay someone to negotiate the maze of tax forms and deductions, or purchase commercial software to aid in filing tax returns. All totaled, Michigan residents spend over $160 billion and about 6 billion hours a year trying to comply with the tax code.
I am working for Michigan’s Eighth District to reform and simplify the tax code so that it may be simpler, fairer and limit the many loopholes in the current system. Most importantly, I believe lowering tax rates will not only create jobs and strengthen our economy, but also allow taxpayers to keep more of the money they worked so hard to earn. By making the tax code more conducive to families, we can stimulate job growth and get our economy back on the road to recovery.
More on Tax Reform
WASHINGTON – Congressman Mike Bishop, Michigan’s Republican member of the House Ways and Means Committee, appeared on “Countdown to the Closing Bell” with Liz Claman on Fox Business Network today to talk about the latest tax reform developments. Watch the full interview here or read the transcript below.