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
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.
Washington, D.C.— President Donald Trump addressed a joint session of the United States Congress for the first time Tuesday. The Freedom Caucus released the following statement:
(photo from Greg Nash)
A congressional panel is planning to examine President Obama’s signature foreign asset reporting law that aims to target offshore tax evasion, Rep. Mark Meadows (R-N.C.) told The Hill Extra.
Washington, D.C. – On Wednesday, Rep. Mark Meadows (R-NC) introduced H.R. 5935—a bill that would repeal America’s global tax law which violates Fourth Amendment privacy rights.
H.R. 5935 will repeal provisions of the Foreign Account Tax Compliance Act (FATCA), included as part of the 2010 HIRE Act, that were originally designed to prevent tax evasion by increasing U.S. government access to foreign bank accounts held by U.S. citizens.
Many House conservatives backed the budget last month and spared GOP leaders another showdown with their right flank for one big reason: They were under the impression the spending blueprint would help them — finally — get an Obamacare repeal to the president’s desk.
Now they’re concerned that Speaker John Boehner and company have other plans.
Washington, DC— Congressman Mark Meadows (R-NC) introduced the Federal Transit Modernization Act on Thursday, which would allow transit agencies to partner with the private sector and save taxpayer dollars.
Despite new-found control in both chambers of the U.S. Congress, Republican lawmakers representing North Carolina spent more time in their seats than their Democratic colleagues Tuesday evening, at President Barack Obama’s State of the Union Address.
The speech, Obama’s sixth as president, found him declaring a page turned after years of war and recession and championing policies geared at the middle class — including reforms to the nation’s tax code and a proposal for free community college.
Washington, D.C.— On Tuesday evening, President Obama gave his 2015 State of the Union Address to a joint session of Congress. Congressman Mark Meadows (R-NC) released the following statement in response:
Washington, D.C.—The Federal Records Accountability Act of 2014, H.R. 5170, introduced by Congressman Mark Meadows (R-NC) and House Oversight and Government Reform Chairman Darrell Issa (R-CA), advanced through Committee Thursday afternoon.
By improving federal recordkeeping laws, the bill addresses federal agencies’ recent failures to properly archive official records.