Republican Budget Reforms Tax Code, Cuts Spending to Restore Fiscal Sanity
Statement
Congressman James Lankford (R-OK) praised the House Republican budget for Fiscal Year 2012 -- "The Path to Prosperity" after its passage in the House of Representatives. Today is the deadline for Americans to file their taxes and a perfect moment to talk about the major simplification and overhaul of the tax code the House Republican budget undertakes. The plan also dramatically cuts spending and reforms our entitlement programs to set a course to a balanced budget.
"On the day when all Americans must have their taxes completed, today should serve as a reminder for the need of true tax reform," said Congressman Lankford. "Our system is so overly complicated, most people have to hire professional accountants just to navigate the tax maze. This type of tax code is not good for families and businesses with limited resources to comply with the law. Each person completing their own taxes understands that the thousands of pages of the tax code is not written for the average American, it is written to provide special exemptions to a few people who have access to government. That is why a primary goal of the House Republican budget is to overhaul the tax code. We must simplify the system by eliminating loopholes and wasteful credits to lower the rates and broaden the base. Tax reform is a positive step that we can take today to spur economic growth and provide relief to working families everywhere.
"All of us who pay taxes want to know that our money is being spent wisely. The House Republican budget makes a huge dent in the runaway spending coming out of Washington. It makes dramatic spending cuts and protects Medicare and Medicaid for future generations. More importantly, this plan puts us on a path to a balanced budget and a way to pay off the debt. We have big problems, for which we need bold solutions. This budget gives our country an opportunity to grow our economy, to get our fiscal house in order, and to ensure future generations will still have a path to prosperity."
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