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House Takes First Step in Reforming Tax Code

Today the House of Representatives passed legislation to overhaul the nation’s tax code, cutting tax rates for families and workers in every income bracket, closing loopholes and making business tax rates more internationally competitive.

“The legislation is a first step toward reforming our nation’s tax code,” said Congressman Bill Posey (R-Rockledge). “Since the last reform over thirty years ago, the tax code has become complicated and time consuming for individuals, full of loopholes and costly for businesses of all sizes. In order to create jobs and stay at the forefront of innovation we need to remain competitive. Reforming the tax code will help us accomplish these goals and will mean more take home pay and less taken out of your pocket. Florida families, employees and senior citizens deserve a tax code that respects and rewards hard work, is accountable and protects a lifetime of savings. It’s now up to the Senate to continue this effort and build upon this reform.”

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