The federal government continues to spend money we don't have and issue regulations that reduce revenues and stunt job creation. This is a bad combination. Our federal tax code has grown to be too big and too complex. Instead of promoting the growth of U.S. jobs, wages, and the economy, our tax code is working against us. In 1960, 17 of the 20 largest global companies were headquarted in the United States. Now that the U.S. imposes the highest corporate income tax rate in the developed world, this number has dropped to six. I’m committed to cutting down on needless regulations, reducing wasteful spending, and simplifying our tax code in order to restore economic growth and the jobs that come along with a healthy economy.
More on Taxes
Did you know that there are 611,495 small businesses in Colorado that account for 99.5 percent of the state's businesses?
Or that 48.6 percent of employed Coloradans work at small businesses?
This year, April 17, marked a day each American dreads: Tax Day. In the weeks leading up to this day every year, Americans scramble to fill out complicated tax forms with the hope that some of their hard-earned money will be returned by the government.
Filing taxes this year was the same old unpleasant and time consuming process that it has been for decades. However, the good news is that this was the last year that Americans will have to file their taxes under the broken and complicated system.
WASHINGTON D.C. – Congressman Scott Tipton (CO-03) voted to help Coloradans – and all Americans – keep more of their hard earned money by supporting the Tax Cuts and Jobs Act (H.R. 1) conference report. The conference report must now be approved by the Senate before it can move to the President’s desk.
This past week the House of Representatives took a historical step forward and passed a comprehensive tax reform package. The last time the tax code was reformed was 1986, and since then, it has become convoluted, burdensome and has started working against Coloradan families and businesses. It is past time for tax reform, and the House delivered on its promise to provide relief for Americans at every income level.
WASHINGTON D.C. — Congressman Scott Tipton (CO-03) voted to help Coloradans keep more of the money they earn, grow U.S. jobs and support a globally competitive America by supporting the Tax Cuts and Jobs Act (H.R. 1). The bill passed the House with a vote of 227-205.
Congressman Scott Tipton (CO-03) issued the following statement after the House Republican Conference unveiled the United Framework for Fixing Our Broken Tax Code: