This week, my office hosted the IRS and Tax Problem Solving Day at the Medina County Library. As a CPA and business guy for over 30 years, I know firsthand the struggles Americans and businesses deal with when it comes to filing their taxes.
My office partnered with Community Legal Aid and the IRS Taxpayer Advocate Service to host taxpayer clinic to allowed taxpayers to speak directly with representatives from the IRS and Tax professions to help explain our obsolete tax code — one that has not been reformed in 30 years.
Every April, I drive to western Pennsylvania to help my single, fixed-income mother with her taxes. It should be one of the simplest returns to fill out, yet she still needs a professional to oversee. Americans have struggled to keep up with our complex tax code that is inefficient, wasteful, and distorts economic activity.
In fact, according to the Tax Foundation, Americans spend over 8.9 billion hours and $99 billion complying with the tax code each year.
America is the global leader in technology, energy, finance, and innovation yet our current tax system is inhibiting our true economic potential and constrains opportunities for all Americans. By failing to overhaul our tax system, the U.S. has fallen drastically behind.
Now, with the highest corporate tax rate in the industrialized world (and one that has not been cut since 2000), it’s no wonder U.S.-based businesses hold back on domestic investment and hiring plans. We need a tax platform that fosters growth, encourages investment, and ensures a level playing field.
As a member of the House Ways & Means Committee, reforming the tax code is an issue I’ve been working on since I arrived in Washington. Over the past year, I’ve traveled around the 88 counties of Ohio, meeting with taxpayers and listening to concerns.
I look forward to coming back next week and armed with the feedback I have received from Ohio small and large businesses to develop the best pro-growth tax code to makes us competitive again. From my tour of Ohio, I know the American public is hungry and starved for a change in the tax code.
If you have any comments and questions send them to: TaxReform.Renacci@mail.house.gov. I look forward to your ideas to transform America’s tax code so that it will provide opportunity for all Americans. Your success should be up to you, not the tax code.