Job Creation and Taxes

As elected officials we have an obligation to be good stewards of the people's money and a responsibility to ease the financial burden of government. Hardworking taxpayers in Central Florida are frustrated with what they see coming out of Washington and want a solution. Congress must be held accountable to taxpayers.

Two types of tax cuts exist - good and great. It is imperative in America's dynamic economic system that we have permanent reductions and increased simplicity within the tax code. "Great" tax relief removes barriers to economic growth and prosperity that confers greater independence and dignity to all Americans and generates resources to help protect America from its national security threats.

American taxpayers have lost faith, and rightfully so, in the way that Congress is spending their hard earned dollars. Each day millions of American's set and live within responsible budgets. They should expect nothing less from a government that's budget consists of their taxes.

We need to follow President Reagan's 1986 tax reform example with:

- Lower rates
- A simplified tax code
- Eliminated or continued reform of the Alternative Minimum Tax
- An Alternative Maximum Tax under which a taxpayer could choose a simpler system with lower marginal rates over the current complex system.
- Permit investing a portion of Social Security contributions into private accounts.
- Increase contribution limits for IRA's, 401(k)'s and other tax deferred investment vehicles and dramatically increase the reasons for non-penalized withdrawals (prescription drugs, long-term care insurance, educational expenses)

I strongly support the Fair Tax Act that would eliminate the federal income tax and the IRS to allow American families to keep all of the money they work for and effectively halt the federal government from squandering these dollars before families even see them. H.R. 25, the Fair Tax Act, sponsored by Rep. John Linder would eliminate the federal income tax and the IRS, replacing them with a national sales tax to be administered primarily by the states.

In March I introduced, as a member of the Republican Study Committee, the "American Taxpayer Bill of Rights." This document established four basic rights to ensure that the taxpayers across America receive a more efficient and accountable government. These include:

1. Taxpayers have a right to have a federal government that does not grow beyond their ability to pay for it.

2. Taxpayers have a right to receive back each dollar that they entrust to the government for their retirement.

3. Taxpayers have a right to expect the government to balance the budget without having their taxes raised.

4. Taxpayers have a right to a simple, fair tax code that they can understand.

Pat Toomey, President of The Club for Growth, the nation's leading free-market advocacy organization with over 40,000 members, announced that Tom Feeney has earned the annual Defender of Economic Freedom award for 2007. The award honors members of Congress who have a strong voting record on economic growth issues. Info here