House Republicans Propose Major Reforms to Tax Code

House Republicans Propose Major Reforms to Tax Code

It sounds too good to be true, but it's really happening: congressional Republicans are finally showing some backbone and taking the fight to big government.

After years of kowtowing to demand after demand from the Obama administration, Speaker Paul Ryan (R-Wis) led House Republicans in introducing a game-changing tax plan. If the proposed reforms go through, the remaining tax code will, as Texas Rep. Kevin Brady put it, be “so simple and fair and understandable that it could fit on a postcard.”

Right off the top, it promises radical changes to the current, bloated mess we have for a tax system: limiting the number of tax brackets to three, the plan will ease the burden on Americans across every income level. It also means that the 33% tax rate that corporations are currently forced to pay, the highest in the world, will decrease down to 20%, while individuals will be guaranteed that they will have to pay no more than 33% of their income to the federal government.

Read more about the House Republicans' exciting new tax plan on the next page:

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