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Americans For Prosperity Americans for Prosperity (AFP) and Americans for Prosperity Foundation (AFP Foundation) are committed to educating citizens about economic policy and mobilizing those citizens as advocates in the public policy process. AFP is an organization of grassroots leaders who engage citizens in the name of limited government and free markets on the local, state and federal levels. The grassroots members of AFP advocate for public policies that champion the principles of entrepreneurship and fiscal and regulatory restraint.

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Five*Things*You Wonít Miss About Our Old, Broken Tax Code

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Unread 04.04.18, 03:09 AM
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Five*Things*You Wonít Miss About Our Old, Broken Tax Code

04.03.18 08:02 AM

Late last year, Congress passed federal tax reform, overhauling the old tax code. Thatís good news for American businesses and families, but bad news for lawmakers who opposed fixing our rigged tax system. Now that federal tax reform has gone into effect, we can say goodbye to a lot of hurtful tax policies. Hereís five*things*you wonít miss about our old, broken tax code. 1. Uncompetitive Tax Rates Before federal tax reform, American businesses faced the highest corporate tax rate in the industrialized world. The 39 percent rate wasnít just expensive, it penalized investment in American companies, pushed jobs overseas and stifled economic growth. The new tax code makes companies competitive in todayís global economy by cutting the rate to 21 percent, encouraging businesses to invest and create jobs in America. 2. Loopholes and Carve Outs Before tax reform, the federal tax code was packed with special interest deals that added up to more than $1 trillion every year. Loopholes, carve-outs and countless other additions created a complicated mess and rigged the tax code to help the well-connected at the expense of everyday Americans. The recent tax reform helped do away with many of these loopholes, creating a fairer, simpler tax […]

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