Scrutinize the work of several major Congressional committees in online forums with the chairs and ranking members. Begin an ongoing dialogue with twelve new members of Congress. Follow the first year in Congress of Freshmen Reps. Tax Overhaul Rep. Granger, Imagine my surprise to discover that the standard deduction now exceeds my itemized deductions, despite owning my home for only 7 years.
Tax policy seems to be removing a major incentive for home ownership.
Thanks for your email from Arlington, Texas. I agree that we must reduce the burden of taxes on American families. I'm pleased that my Texas colleagues, Dick Armey and Bill Archer have carefully developed innovative proposals to scrap the current tax code and replace it with a simpler, less burdensome approach. While I am still considering both Congressman Armey's flat tax proposal and Congressman Archer's plan for a consumption tax, I am generally inclined towards a flat tax rate that also provides for deductions for home mortgage and charitable contributions. Such an approach would reduce the tax burden on millions of families, while maintaining incentives for home ownership and charitable giving which are essential to our quality of life.