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No one is saying keep the current tax code: Americans want to keep more of their paychecks
As I have traveled around my home district in Georgia this year, I have spoken with countless families and business owners about what I can do to represent them in Washington. I always get a wide range of responses, but not one person has ever asked me to preserve the tangle of loopholes and complexities we call a tax code. Instead, Georgians tell me they want to keep more of their hard-earned paychecks and benefit from a growing economy that encourages success rather than punishing it.
As a member of the House Budget Committee, I also know how critical tax reform is to fix our nation's most pressing issue: an ever-growing debt burden we will leave behind for our children and grandchildren.
While we certainly need to address drivers of our debt, like mandatory spending programs, we cannot solve our budgetary challenges without meaningful economic growth. And the best way to promote sustained economic growth and set us on a path to restoring our fiscal health is comprehensive tax reform.
America should be the most competitive place in the world to do business, but, right now, everything about our tax code tells American companies to take their dollars and their jobs overseas. Instead our tax code should incentivize American companies to keep their investments in the United States to grow our economy and create jobs here at home.
That's why we will significantly lower the corporate tax rate and focus on the transition to a territorial tax system that will put U.S. companies on equal footing with their counterparts around the world.
We are also focused on lifting the tax burden on every day Americans who are working hard to support their families. I am optimistic that under our plan all Americans will see lower rates and a simplified filing process and will benefit from a thriving economy.
This goal is well within our grasp, despite the doubt cast by the media or our Democratic colleagues. Consensus takes time, and the president and members of the House and the Senate have worked tirelessly to craft legislation that benefits all America.
I want to emphasize that this has been an inclusive process. Even as a freshman congressman, my voice has been heard by leaders in the House and the White House.
In these discussions, it has become increasingly clear that the first thing we must do to kick-start this process is pass the conservative budget my colleagues and I crafted and passed out of the Budget Committee this summer. This blueprint not only puts tax reform on sure footing, it also balances our budget in ten years and calls for much needed mandatory spending savings.
The people of Georgia's 3rd District sent me to Washington to get results, not to get caught up in a game of political hot potato. It's time for us to come together and act to get our economy growing and make sure Americans can keep more of their hard-earned money. Everyone will benefit from a larger paycheck and a stronger economy, and I am confident that my colleagues and I can get the job done.
Ferguson represents Georgia's 3rd District.