I strongly support comprehensive tax reform and believe that the issue must remain one of our nation’s top priorities. In an effort to reform our overly burdensome and complex tax code, I am proud to have introduced legislation in every Congress since my election to the U.S. Senate to establish a flat income tax of 17 percent on all incomes. This legislation is a straightforward solution that would require taxpayers only to file a simple postcard size return, which would save Americans time and money. My plan would also allow businesses to redirect resources away from tax compliance and instead focus on expanding their businesses and creating jobs. I believe this policy would result in an immediate tax cut for virtually all taxpayers, while also reducing the size, scope, and complexity of the IRS.
Corporate Tax Rate
The United States has the highest statutory corporate tax rate among developed countries. Higher corporate taxes leads to less capital for companies to invest into their businesses and makes it more difficult for them grow and hire more employees. I look forward to working with President Trump to help facilitate his plans to lower taxes, which I believe will increase America's competitiveness in the global economy.