Roger Williams Announces ‘Business Perspective’ Overhaul of U.S. Tax Code

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.

"Jumpstart America is made up of proven ideas that have been transformed into practical legislation," said Williams. "My proposal will allow Americans to keep more of their hard-earned money, make the United States more competitive on the global stage and get more cash flowing away from the government and into the private sector."

Williams' first bill will implement a maximum 20 percent cap on individual tax brackets up to one million dollars and a 30 percent cap on incomes more than one million dollars. Individuals whose incomes are below the one million dollar threshold and who currently pay less than 20 percent in federal income taxes will remain at their current rates.

Williams will introduce six more bills, one each week the U.S. House of Representatives is in session, until the August recess.

In addition to today's bill which would cap federal income tax for individuals, Jumpstart America will address the following:

• Repatriation
• Bonus depreciation
• Corporate tax rates
• Payroll tax brackets
• Capital gains and dividends
• LIFO accounting

"Job creators need certainty, fairness and reliability from Washington, and right now they're not getting any of that," said Williams. "My legislation will put Americans back to work, increase economic growth and restore opportunity for all."

Click here to watch Williams' announcement.

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