IV 

115TH CONGRESS 

1ST SESSION H. RES. 530 

Supporting initiatives by President Trump to create a new age of American 

prosperity by reducing the crushing tax burden on American families 

and American companies. 

IN THE HOUSE OF REPRESENTATIVES 

SEPTEMBER 21, 2017 

Mr. RENACCI (for himself, Mr. MARINO, and Mr. JOHNSON of Ohio) submitted 

the following resolution; which was referred to the Committee on Ways 

and Means 

RESOLUTION 

Supporting initiatives by President Trump to create a new 

age of American prosperity by reducing the crushing 

tax burden on American families and American companies. 

Whereas not since President Reagan signed into law the Tax 

Reform Act of 1986 has a significant overhaul been made 

to the now 2,400,000 word individual and corporate tax 

codes; 

Whereas an average of 8,900,000,000 hours and 

$409,000,000,000 in expenses are spent each year complying with Internal Revenue Service tax filing requirements; 


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Whereas 72 percent of Americans feel that the ‘‘economy is 

rigged to advantage the rich and powerful’’; 

Whereas the high individual rates in the current tax code 

take too much hard-earned money from ordinary Americans struggling to get by, reducing the amount of their 

badly needed take-home pay; 

Whereas our outdated, worldwide tax system discourages increased investment in the United States, effectively trapping foreign earnings in other markets and fueling the 

migration of American businesses to lower-tax countries; 

Whereas the United States currently taxes businesses at the 

highest statutory rates in the developed world, inhibiting 

their ability to hire and train new workers, raise wages 

for workers already on the payroll, and invest in research 

and new equipment; 

Whereas it is evident from widespread research that comprehensive tax reform could prompt business investment, 

productivity gains, and increase output and wage growth; 

Whereas cross country comparisons demonstrate that effective corporate tax rates have a large and significant adverse effect on corporate investment and entrepreneurship—raising the effective tax rate by 10 percentage 

points reduces the investment rate by 2.2 percentage 

points; 

Whereas our current tax scheme is a complicated web of deductions, which reduce the effective rate, but create distortions and preferences (picking winners and losers), as 

well as onerous compliance costs; 

Whereas lowering the rates would bring the United States 

more in line with 85 other developed countries, encouraging businesses with a global footprint to expand their 


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operations in the United States by enabling them to compete on an even playing field with foreign-based competitors; 

Whereas a 2017 Organization for Economic Cooperation and 

Development (OECD) study suggested expansion to the 

United States economy could come through a corporate 

tax overhaul which would ‘‘drive household consumption 

and investment activity’’ while ‘‘tax simplification for the 

corporate sector would ease the burden, especially for 

smaller enterprises, which have recovered sluggishly from 

the financial crisis’’; and 

Whereas rate cuts have shown themselves to be a reliable catalyst for growth: Now, therefore, be it 

1 Resolved, That the House of Representatives— 

2 (1) affirms the leadership and commitment of 

3 President Trump to simplifying the tax code for all 

4 Americans so that it is simple, fair, and easy to un5 derstand; 

6 (2) supports tax relief that will benefit Ameri7 cans by raising their standard deduction, increasing 

8 the child tax credit, and lowering tax rates substan9 tially; 

10 (3) supports individual rate cuts that touch all 

11 individuals and leverage higher rates of economic 

12 stimulus; 

13 (4) supports ending the rigged system where 

14 special interests win at the expense of the middle15 class; 


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1 (5) supports tax relief for all businesses of all 

2 sizes, by reducing rates as much as possible to re3 store America’s competitive edge and make America 

4 the best place in the world to hire, invest, and to 

5 grow; 

6 (6) supports family businesses by not allowing 

7 the death tax to crush the American dream; 

8 (7) supports retooling the tax code to give 

9 American workers a level playing field within our 

10 international economy; 

11 (8) supports switching from a worldwide tax 

12 system that encourages companies to keep their 

13 funds offshore to a territorial system that encour14 ages companies to bring their profits back home to 

15 America; 

16 (9) encourages following regular order as tax 

17 reform moves forward to ensure the greatest likeli18 hood of success; and 

19 (10) encourages all Americans to call on Con20 gress and demand delivery of this once-in-a-genera21 tion opportunity to put America first. 

Æ 


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