Americans know best how to spend their hard-earned money and don't need to be sending more of it to Washington. Congress took a huge step toward permanent tax relief when it passed the Taxpayer Relief Act of 2012, preventing the largest tax hike in American history.
The bill made the Bush-era tax cuts permanent and provided marriage penalty relief, protection for estates, expanded child tax credits, a permanent adjustment to the Alternative Minimum Tax, and security for doctors to ensure that they won't have to incur a 27 percent cut in Medicare reimbursements.
Passing FairTax legislation would lead to further economic peace of mind and is a measure I have strongly backed through the years. At 131-pages-long, the FairTax is a national sales tax on all new products sold in the United States. It replaces three-million-plus words of outdated Internal Revenue Service (IRS) code with one tax based solely on what Americans spend.
In these tough economic times, spending $265 billion and 6.1 billion hours filling out tax forms does not make common sense. Yet, that’s what citizens do each and every year. We can all agree that this amount of time and money can be better spent on growing the economy and creating jobs.