Tax Reform, Jobs & Economy

Dr. Kelli Ward is a strong advocate for simplifying our nation’s tax code. Kelli is proud to support President Trump and his bold tax reform agenda. As senator, Kelli would work hand-in-hand with the president to advance meaningful, long-lasting tax reform that eliminates the complexity surrounding our current tax code. 

In 1962, America’s economy was stagnant; however, by 1965, President Kennedy’s signature tax cuts had brought it back to life. Twenty years later, the U.S. economy was again in need of practical tax reform. To get the economy moving, President Reagan signed two bills – one in 1981 and another in 1986 – which would later be viewed as the defining economic legacy of his presidency.

Following in the footsteps of Presidents Kennedy and Reagan, President Trump is proposing a tax reform plan that will help fix America’s broken tax code, protect American jobs and provide much-needed tax relief for middle-class families.

Like President Trump, Kelli believes that any tax reform plan should put America first. This means consolidating the current seven tax brackets into three brackets, cutting the corporate tax rate and repatriating the trillions of dollars that companies are storing overseas. Tax reform should also abolish the death tax, the alternative minimum tax and all the Obamacare taxes.

Additionally, reducing taxes and simplifying the tax code will be a boon for small business owners and entrepreneurs, who are the backbone of our economy. A recent study found that the middle market–not large companies–produces three out of five net new private-sector jobs. America must encourage the growth and expansion of these small businesses and job creators, instead of discouraging them by imposing more taxes and burdensome regulation.

As of 2016, the state of Arizona ranked third in Growth Entrepreneurship among the 25 “large” states in the United States. Taxing these individuals at a lower rate will leave them more money to put back into growing their businesses. By simplifying the tax code, slashing regulation and letting small business owners keep more of their hard-earned money, Arizona can expect to experience a surge of new businesses and jobs.

But we can’t stop there. The federal government must commit itself to recurrent reviews of our tax code. As the world around us rapidly changes, Congress must also evolve to become both flexible and fiscally responsible in order to stay competitive with other nations. They should seek out fresh, innovative ways to replace the current system with a 21st century system that embraces a flatter and fairer tax code for all Americans.


References:
http://www.kauffman.org/kauffman-index/profiles?loc=4&name=arizona&breakdowns=startup-activity|overall,main-street|overall,growth|overall
http://www.middlemarketcenter.org/performance-data-on-the-middle-market

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