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Congressman Warren Davidson

Representing the 8th Congressional District of Ohio

Tax Reform

There is no way to tax the economy to growth. 

Our tax system is burdensome, complex, and administered by an out-of-control IRS. Big businesses and the well connected hire high-priced lawyers, accountants, and lobbyists to game the system, while everyday Americans and small businesses are left footing the bill. Meanwhile, we live in an increasingly competitive global environment, where our competitors are gaining an ever-increasing market share.

We need fundamental tax reform that lowers rates, simplifies the system, and eliminates special interest breaks and loopholes.

Since the great recession, the economy produced only anemic economic growth. This isn’t the fault of Americans, who are the hardest working people in the world. It’s the fault of our tax system which encourages companies to move overseas to remain competitive.

Our tax code should be a competitive advantage to business based in the United States. The American economy is being held back by our antiquated tax code. Once it is reformed, our economy will flourish again.

 

More on Tax Reform

January 21, 2017 Press Release
“I am anxious to restore the Article I powers our Constitution places in Congress. We pass the laws, and the Executive Branch executes them. Former President Obama took a bad trend to new levels, boasting of governing by cell phone and pen. President Trump is using executive authority to restore that balance and end that era of bad policy and bad precedent.
January 5, 2017 Press Release
Rep. Warren Davidson (R-OH) and Sen. Marco Rubio (R-FL) today reintroduced the Protect Family Farms and Businesses Act in the House and Senate, which would prevent Internal Revenue Service (IRS) bureaucrats from ignoring 25 years of tax precedent and unilaterally reinterpreting death tax law.
September 29, 2016 In The News
We all knew President Barack Obama’s lame-duck presidency would be bad, but for the millions of Americans who work at family farms and businesses, it’s about to get a lot worse.
 
As Heritage Foundation tax expert Curtis Dubay wrote at The Daily Signal, Obama is trying to sneak in a tax hike in his twilight days. His Treasury Department unveiled midnight regulations that effectively would increase the death tax to 30 or 40 percent.
 
September 21, 2016 Press Release
Rep. Warren Davidson (R-OH) introduced the Protect Family Farms and Businesses Act to halt the stealth death tax increase, which barring Congressional action could go into effect later this year. On August 4, 2016, the Treasury Department released a proposed rule that would significantly increase the burden of the death tax. Specifically, the rule will hinder the ability of businesses to apply proper valuation discounts for estate, gift, and generation skipping taxes. For the past 25 years, across Republican and Democratic administrations, valuation discounts have been applied to closely held family businesses that do not have a frequently-traded market. The new IRS rule undermines this settled law and effectively increases the death tax by 30% or more on family-owned businesses. One of the industries hardest hit by the estate tax is family owned farms that get passed on from generation to generation - an embodiment of the American Dream.