Tax reform, if it is done correctly, should promote growth and significantly reduce economic distortions that are present under the current income tax system.
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Before we engage meaningfully in tax reform, we need a clear vision of what we want success to look like.
Should we indeed go back to that? That is, if the Tax Reform Act of 1986 was so great, should Congress just have an up or down vote on that?
A successfully reformed tax system will help make America the best place in the world to work, conduct business, invest, and prosper.
You give them the whole bill, and I think they will go for it.
The income tax base, which has become riddled with exclusions, exemptions, deductions, and credits, should be as broad as possible.
Today's hearing is about the need for tax reform and what lessons we can learn from the Tax Reform Act of 1986.
That is some good creative thinking right there. I reserve the balance of my time.
I appreciate Congressman Reed and what he is trying to do here. I think this makes a lot of sense. His amendment asks agencies to consider the effects of regulatory action upon private property owners. The amendment furthers the bill's…
I would like to make Mr. Cummings aware that I have no further speakers, and I am prepared to close, but I will reserve the balance of my time.
I am pleased to yield 3 minutes to the gentleman from North Carolina (Mr. Walker).
May I inquire of the time left on both sides? The Acting CHAIR. The gentleman from Utah has 15\1/2\ minutes remaining, and the gentleman from Maryland has 9\1/2\ minutes remaining.
I am pleased to yield 3 minutes to the gentleman from North Carolina (Mr. Meadows).
I am pleased to yield 3 minutes to the gentleman from Georgia (Mr. Jody B. Hice).
At this time, I am pleased to yield 5 minutes to the gentlewoman from North Carolina, Dr. Foxx, the prime sponsor of this bill.
The American people deserve an answer to this question, and I hope you will be willing to give us one today.
I am not going to sugarcoat anything with this budget. Instead, I am going to cut right to the chase.