Aug 15, 2017

Sen. McCaskill: U.S. Tax Code “Broken and Needs Reform”

Post by Freedom Partners

It’s been more than thirty years since Congress last overhauled our tax laws, and in the decades since the tax code has become a complicated mess.

Over 70 percent of Americans think the economy is rigged, and they’re right. Our current system rewards well-connected special interests – backed by Washington lobbyists – in the form of carve outs and loopholes added to our tax code.

Who pays for these giveaways? Everyone – especially the least fortunate.

Tax breaks and handouts are expected to exceed $1.5 trillion this year, further perpetuating a two-tiered system where the well-connected benefit at the expense of everyday American families and businesses. Additionally, the U.S. has one of the highest corporate tax rates in the world, putting American businesses at a disadvantage in today’s global economy and hurting jobs.

Now, Congress has the chance to pass comprehensive tax reform that creates a simplified, more efficient, equitable and predictable tax code – without placing new burdens on taxpayers.

Among the lawmakers who should be excited about this opportunity to un-rig the economy is Missouri Senator Claire McCaskill. “The current U.S. tax system is broken and needs reform,” McCaskill said in 2015.

In 2014, McCaskill called for an end to special-interest handouts. “We just want to level the playing field,” she said, noting that closing loopholes would allow Congress to cut tax rates for everyone. “I think we all want to lower corporate tax rates,” McCaskill added.

With the once-in-a-generation opportunity to pass tax reform this year, it’s time for Sen. McCaskill to put those words into action and help un-rig the economy to the benefit of all Americans.

Click here to learn more about our tax reform plan.

Freedom Partners is highlighting remarks from key senators who have – in their own words – long-advocated for overhauling the U.S. Tax code to grow the economy, lower tax rates, close loopholes and special interest tax breaks, and encourage American businesses to compete globally.

Manchin | Donnelly | Heitkamp | Brown