- Personal tax brackets cut to 20% and 30%
- Americans should keep more of their hard-earned money.
- Corporate tax rate lowered to 20%
- Cutting the corporate tax rate will spur job creation, encourage increased investment in research and infrastructure, make businesses more competitive worldwide, and lower the unemployment rate.
- Repatriation tax holiday at 5% rate
- High corporate tax rates encourage U.S. companies to store their earnings abroad instead of investing it in expansion and employment at home. This proposal allows for a permanent tax holiday to allow repatriation of funds at 5%, instead of 35%.
- Payroll tax cut for employers and employees of 2%
- Cutting payroll taxes boosts take-home pay for Americans. From 2011-2012, employees enjoyed a 2% payroll reduction (to 4.2%).
- Cut the Capital Gains and Dividends tax to 15% or 0%
- Cutting the capital gains and dividends tax will improve economic growth. Extending these cuts to all investors will help stimulate investment. 15% is recommended, but 0% is ideal.
- Eliminate the Inheritance tax
Instead of being burdened with the most unfair tax liability we have, we should allow Americans to expand their businesses. Eliminating this tax would create 1.5 million jobs.
- Make bonus depreciation permanent at a 100% level
- Allowing for 100% depreciation of fixed assets will allow businesses to deduct tangible personal property from the tax base in the year of purchase. Bonus depreciation reduces the tax bias against investment.
- Keep LIFO Accounting
- The Last In, First Out accounting method is a more accurate way of measuring financial performance and calculating taxes. Repealing LIFO would force companies using this method to report their LIFO reserves as income, resulting in a massive tax increase for both large and small businesses.
More on Tax Reform
WASHINGTON, D.C. – Hours before a government shutdown, the U.S. House of Representatives passed a continuing resolution (CR) during the early morning hours on Thursday that will keep the government open and functioning through Dec. 11.
WASHINGTON, D.C. – Congressman Roger Williams (R-Texas), a small business owner and member of the House Financial Services Committee, this morning released the following statement after the U.S. Department of Labor released its monthly jobs report which fell below expectations.
AUSTIN, TEXAS – Congressman Roger Williams (R-Texas) addressed attendees at the 41st annual Independent Bankers Association of Texas convention in Galveston Monday.
Williams, a small business owner and member of the House Financial Services Committee, spoke on harmful federal policies affecting community banks and credit unions and the small business community and discussed his legislation designed to correct them.
House Ways and Means Chairman Paul D. Ryan, R-Wis., will face competition from conservative rivals as he tries to develop a plan to fund highways with revenue from repatriating $2.1 trillion in corporate earnings held offshore at lower rates than envisioned in the administration's fiscal 2016 budget.
United States Congressman Roger Williams is home from Washington, D.C., and is spending his time in Texas visiting small businesses around U.S. House District 25.
Williams and members of his staff were in Hamilton last Wednesday to visit with the management team and employees of Pederson’s Natural Farms.
“I’m one of the few in congress that actually owns a business,” said Williams. “We’re out visiting small businesses with the message that our office is working to jumpstart America, and that begins with helping our businesses grow and succeed.”
AUSTIN, TEXAS – Congressman Roger Williams (R-Texas), a small business owner, joined Capital Tonight with Paul Brown on Time Warner Cable News Austin to discuss his seven bill tax reform plan, Jumpstart America: A business perspective on tax reform.
“Wall Street is doing fine, but Main Street America is not back,” said Williams. “We’re not talking about loopholes. We’re not talking about deductions. We’re talking about cash flowing American small businesses.
AUSTIN, TEXAS – Congressman Roger Williams (R-Texas), a small business owner, joined Good Day Austin on Fox 7 Tuesday to discuss his seven bill tax reform plan, Jumpstart America: A business perspective on tax reform.
“Main Street America is not back,” said Williams. “As diverse as this district is, the one thing people really want to talk about is the economy. We’re a consumption driven nation, and I believe (Jumpstart America) will put Americans back to work and get our economy going again.”
AUSTIN, TEXAS – Congressman Roger Williams (R-Texas) joined KVUE Austin in studio Monday to discuss his seven bill tax reform plan, Jumpstart America, and the Iran deal.
“I’m one of the few people in Congress who still owns a business,” said Williams. “I need to do the right things that I think will turn America around, so let’s get the process going.”
Williams has vowed to oppose the Iran deal when it comes before a vote in Congress.
The Copperas Cove Economic Development Corporation board hosted Texas District 25 U.S. Rep. Roger Williams, R-Austin, on Aug. 7 at the EDC building to brief Cove residents on his tax reform plan called Jumpstart America.
AUSTIN, TEXAS – Congressman Roger Williams’ (R-Texas) has introduced the final piece of legislation in his seven bill tax reform plan, Jumpstart America.
“As a business owner I believe cash flowing American businesses should be Washington’s number one approach to tax reform, but unfortunately that just has not been the case,” said Williams. “Small businesses need relief now, and Jumpstart America is the most effective and immediate way to empower small businesses to grow and hire again.”