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Blunt Op-Ed in Kansas City Star: Families and Small Business Need Tax Relief

September 04, 2017

WASHINGTON – In an op-ed in today’s Kansas City Star, U.S. Senator Roy Blunt makes the case for tax cuts and pro-growth policies that will increase take-home pay for Missouri families and help small businesses grow and reinvest in our communities. Following are excerpts from Blunt’s op-ed:

Outdated tax policies are stifling our economy and taking money out of the pockets of hardworking Missourians. That’s why I’m glad President Donald Trump came to our state last week to make the case for tax cuts and pro-growth policies that will strengthen our economy, boost wages, and help families get ahead.

As the president put it, families need a tax code that is “simple, fair, and easy to understand.” That’s far from what we have today. … According to the IRS national taxpayer advocate, businesses and individuals spend six billion hours each year simply trying to figure out how to comply with our complicated tax code. …

In Missouri, 97 percent of all businesses are small businesses. The National Federation of Independent Business says that three-quarters of small businesses in this country are structured as pass-through entities, meaning they must pay tax on their business income at the individual rate. Some of these businesses are currently taxed at rates as high as 44.6 percent. …

Larger U.S. businesses are also losing ground because of our broken tax code. America’s corporate tax rate, at 39 percent, is the highest among major economies in the industrialized world. … There is no reason the United States should be forfeiting jobs and economic growth to other countries.

Most importantly, as the president made clear in his speech, it’s been too long since working families saw the kind of change in their take-home pay that makes a difference. There are two ways to increase take-home pay: better jobs and lower taxes. We need tax cuts that produce both. American families need more money in their wallets and better jobs to create more taxpayers. …

As a transportation hub, agriculture leader, and home to more than half a million small businesses, Missouri is positioned to be at the cutting edge of growth and innovation in this country. But, we need the right policies to get us there and pro-growth tax cuts and regulatory reform are a critical part of that equation.

Read the full op-ed here.



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