Having spent the majority of my life in the private sector, I fully understand the tax burden born by American workers, families and small businesses. In order to address our current fiscal crisis, we must get serious about tax reform and abandon the idea that simply raising taxes on Americans will solve our economic problems. Families and small businesses in North Carolina’s 11th district are already forced to live under the strains of a stagnant economy. Asking our communities to foot the bill for our federal government’s inefficient and unrestrained spending is simply wrong.
Instead of supplementing higher spending with higher taxes, Congress needs to get serious about cutting spending and making our tax code competitive and simple. Our current tax code is almost four million words long and contains thousands of deductions, credits and exemptions that result in an incredibly inefficient and costly system. I support a simplified tax code that not only eliminates loopholes but also reduces overall rates. America has one of the highest corporate tax rates in the world, creating a major disincentive for both domestic and foreign companies to invest here at home. Across-the-board tax code simplification and rate reductions will create greater certainty and the kind of economic boost that our nation desperately needs.
Now more than ever, North Carolina families should be allowed to keep more of their money. Our current tax policy is broken and raising taxes only contributes to the problem. While I continue to support legislation to stop tax hikes and close loopholes, large scale reform of our nation’s tax code must be our ultimate goal.
More on Tax Reform
WASHINGTON, D.C. — Rep. Mark Meadows (R-NC) released the following statement on the passage of H.R. 1, the Tax Cuts and Jobs Act:
“Today, the House kept its promise to pass a historic tax reform proposal—and it’s a delivery that is long overdue.
“Moms, dads, small-business owners and working families across the country sent us to Congress to create a simpler and fairer tax code that grows our economy, works for American families rather than D.C. special interests, and returns power from bureaucrats in Washington back to the people of Main Street.
Rep. Meadows’ Statement on Passage of House Tax Reform Bill, H.R. 1
Washington, D.C. – Rep. Mark Meadows (R-NC) released the following statement on the passage of H.R. 1, the Tax Cuts and Jobs Act:
Rep. Meadows on ABC This Week
Washington, D.C. – On Sunday, Rep. Mark Meadows (R-NC) appeared alongside Rep. Peter King (R-NY) on ABC’s This Week with George Stephanopoulos. The two members discussed the new GOP tax reform proposal, which is going through the committee amendment process beginning today.
Rep. Meadows’ Statement on Passage of FY18 Budget Resolution, H. Con. Res. 71
Washington, D.C. – Rep. Mark Meadows (R-NC) released the following statement on the passage of the FY18 Budget Resolution, H.Con.Res 71—the vehicle to consider tax reform under reconciliation rules:
Two of the most ideologically different lawmakers in Congress met Wednesday to talk tax reform: Sen. Chuck Schumer, the Democratic leader in the Senate, and Rep. Mark Meadows, a hardline conservative in the House.
Ah, to be a fly on the wall during that meeting.
Washington, D.C. – On Monday, Rep. Mark Meadows (R-NC) interviewed with Wolf Blitzer on his CNN show, Wolf, to discuss the latest news surrounding tax reform.
Meadows particularly addressed the upcoming House vote on the Senate budget—the vehicle that will allow the two chambers to consider tax reform under reconciliation rules. If the House passes the Senate budget, it will allow tax reform to pass the Senate with only 51 votes.
Rep. Mark Meadows, the conservative hard-liner and chairman of the far-right House Freedom Caucus, is playing an unlikely role in the push for tax reform: liaison to Democrats.
House Freedom Caucus members will push for changes to two major welfare programs — food stamps and Temporary Assistance for Needy Families — as part of tax reform legislation, the group's chairman told POLITICO.
Rep. Mark Meadows (R-N.C.) also said the hardline conservative group's still-in-development bill wouldn't include a controversial tax on imports or immediate write-offs for business investments — known as full expensing — backed by House GOP leaders. The first is too unpopular and the second too expensive, he said.
Washington, D.C. – On Thursday, Rep. Mark Meadows (R-NC) joined Senator Rand Paul (R-KY) to introduce a bill that would repeal America’s global tax law, which has caused U.S. citizens to renounce their citizenships in record numbers.
The bill would repeal provisions of the Foreign Account Tax Compliance Act (FATCA), included as part of the 2010 HIRE Act, that was originally designed to prevent tax evasion by increasing access to foreign bank accounts held by U.S. citizens.