Title: Pro-growth Tax Reform

Summary: Urges Congress to support pro-growth tax reform.

Full Text:
WHEREAS, the United States imposes some of the highest income tax rates on small businesses and corporations in the world, which puts American employers and workers at a great disadvantage relative to foreign competitors, and WHEREAS, the United States tax code and related laws exceed 75,000 pages and impose hundreds of billions of dollars and billions of hours in compl iance costs on taxpayers, and WHEREAS, the United States is one of the only modern countries that double taxes American companies on income earned overseas and brought back to America to be reinvested in the economy, and WHEREAS, American businesses are currently forced to depreciate the cost of purchasing new equipment in an arbitrary way, forcing business owners to make decisions based solely on the United States tax code, and WHEREAS, the complex, out-of-date tax code suppresses economic growth at a time when our economy has grown at a HM 7089 2017 hm7089 FL OR I DA HO US EO FR EP RE SE NT A TI VE SR EP RE SE NT A TI VE Shistorically slow-percent average rate, resulting in the creation of fewer jobs with lower wages, NOW, THEREFORE, Be It Resolved by the Legislature of the State of Florida: That the Congress of the United States is urged to support pro-growth tax reform that fixes the aforementioned problems by permanently lowering tax rates, repealing the estate tax and the alternative minimum tax, moving to territorial taxation, and implementing full business expensing. BE IT FURTHER RESOLVED that copies of this memorial be dispatched to the President of the United States, to the President of the United States Senate, to the Speaker of the United States House of Representatives, and to each member of the Florida delegation to the United States Congress.