May 25, 2017
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PAUL RYAN OP-ED: Tax reform is the crown jewel of economic growth


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BY REP. PAUL RYAN


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Without a doubt, comprehensive tax reform is the key to economic growth and creating more jobs. There are other actions Congress takes to help create jobs — like regulatory reform, which we have made significant progress on through the Congressional Review Act — but tax reform is paramount if we wantbusinesses of all sizes to create jobs and improve the lives of Americans.

For individuals and families, the tax code is far too complicated and costly. The Republican tax plan will simplify, flatten, and lower tax rates and reduce the number of tax brackets. Reforms like increasing the standard deduction or eliminating the alternative minimum tax will allow hardworking men and women all across this country to be able to keep more of their own money and make the tax-filing process easier and simpler.

Imagine being able to file your taxes on a postcard.

We can move past the days of filing our taxes with dread because of the complexity of the tax code and fear of an audit by the Internal Revenue Service (IRS) to a simpler, easier process.

Tax reform won’t just help Wisconsin’s families, but small businesses as well. Nearly 98 percent of all employers in Wisconsin are small businesses — those with fewer than 100 employees making up the largest portion of these businesses — and they employ well over one million Wisconsinites.

These small businesses owners are risk-takers and entrepreneurs. Their hard-working employees are the men and women who build transmissions, plant seeds, and drive trucks; it is through owner and employee together that small businesses are able to thrive. To say these people are the backbone of Wisconsin’s economy would be an understatement. They are the embodiment of the American dream, and tax reform can help make that dream a reality.

Approximately nine out of 10 businesses in the Badger State — most of which are small businesses — file their taxes as individuals, with an effective federal tax rate of up to 44.6 percent. And that is before you consider any state or local taxes. Think about that: Nearly 50 cents of every dollar these small businesses make go to the federal government, instead of towards higher wages, better benefits, new equipment, or R&D.

The Republican plan proposes dramatically reducing rates and streamlining the tax code for our small businesses as well. The plan would abolish the death tax, which can result in double, and potentially even triple, taxation on small businesses and family farms, both of which are prevalent in Wisconsin.

Real pro-growth tax reform is pro-employee and pro-small business. As your Congressman, I will continue to work with my colleagues to ensure a smarter, simpler tax code.

There is a better way forward. Here in Congress, we have a historic opportunity to achieve tangible, meaningful results for Wisconsinites across the state and Americans across the country including the crown jewel of job creation: Tax reform. I will do everything I can to make that a reality.

House Speaker Paul Ryan represents Wisconsin’s 1st congressional district, which includes Kenosha County. He can be reached on his constituent hotline 888-909-7926 or D.C. office 202-225-3031. You can email him by clicking the tab atop his website paulryan.house.gov.

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