Williams Talks Tax Reform on CNBC
WASHINGTON, DC – Congressman Roger Williams (R – Austin), a member of the House Financial Services Committee and a second generation small business owner, joined Squawk Box on CNBC Wednesday morning to discuss his tax reform plan, Jumpstart America.
Jumpstart America will do the following:
Cap Individual Tax Rate to 20% and 30% for those making more than $1 million/ year
Lower Corporate Tax Rate to 20%
Make Permanent a Repatriation Tax of 5%
Preserve LIFO Accounting
Lower Capital Gains and Dividends Tax Rate to 15%
Allow for 100% Expensing of Fixed Asset Purchases
Implement Payroll Tax Cut of 2% for Employee and Employer
Repeal Inheritance Tax
Jumpstart America is supported by Americans for Tax Reform and former Congressional Budget Office director, Douglas Holtz-Eakin.