Congressman Roger Williams

Representing the 25th District of Texas

Tax Reform

  • 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

Aug 25, 2015 Video

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.

Aug 19, 2015 Video

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.”

Aug 18, 2015 Video

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.

Aug 3, 2015 Press Release

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.”

Jul 13, 2015 Press Release

WASHINGTON, D.C. – Congressman Roger Williams (R-Texas), a small business owner, spoke with Jon-David Wells on Thursday to discuss his seven bill tax reform plan, Jumpstart America.

Jul 7, 2015 Column

The talk of tax reform in our nation’s capital is commonplace. Unfortunately, there is just not much substance to back up the rhetoric. Tax reform is a bipartisan issue, but the United States tax code has not been overhauled since 1986.

Jun 18, 2015 Press Release

WASHINGTON, D.C. – Congressman Roger Williams (R-Texas), a second generation small business owner of more than 40 years, today introduced his first bill of a seven bill series to reform the United States tax code.

His proposal, titled Jumpstart America, is a business perspective on tax reform that seeks to increase cash flow rather than repeat historically failed attempts to adjust existing loopholes and deductions.

Jun 18, 2015 Video

WASHINGTON, D.C. – Congressman Roger Williams (R-Texas), a second generation small business owner of more than 40 years, today introduced his first bill of a seven bill series to reform the United States tax code.

His proposal, titled Jumpstart America, is a business perspective on tax reform that seeks to increase cash flow rather than repeat historically failed attempts to adjust existing loopholes and deductions.

Apr 28, 2015 Video

WASHINGTON, D.C. – Congressman Roger Williams (R-Texas), a member of the House Financial Services Committee, spoke with Augusta Cassada of OAN (One America News Network) about his vote to repeal the death tax and how the tax directly affected his family business.

“We came close to declaring bankruptcy,” said Williams, whose death tax liability was equal to a significant value of the business’ worth. “That is money I could have given to my church, money I could have put into a business to create more jobs, create more taxpayers.”

Apr 20, 2015 Video

Austin, Texas – Congressman Roger Williams (R-Texas), a member of the House Financial Services Committee, joined Stuart Varney on Fox Business Network Friday to discuss the House vote to repeal the death tax and how the tax has impacted him, a second generation business owner.

“Shortly after they (my parents) passed away the IRS was in my office,” said Williams. “I had to consider declaring bankruptcy. It is double taxation…it’s just wrong, and it’s capital that could go into our economy to help create jobs. It’s a job destroyer.