[Congressional Record Volume 160, Number 33 (Thursday, February 27, 2014)]
[House]
[Page H2012]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               TAX REFORM

  (Mr. WILLIAMS asked and was given permission to address the House for 
1 minute.)
  Mr. WILLIAMS. Mr. Speaker, for more than four decades I have owned my 
own business. I am a business guy, and I can say with certainty that 
today's economy is the hardest economy our country has seen from a 
small business standpoint.
  Taxes and regulations are killing businesses, stifling growth, and 
preventing educated, qualified individuals from becoming job creators 
themselves.
  America's Tax Code deals some of the harshest penalties for those who 
contribute most to the economy. We have the highest corporate tax rate 
in the world, and the top wage earners pay most of the Federal income 
taxes.
  To restore fairness for all taxpayers, we need to cut the corporate 
rate to a real 25 percent, and collapse the current six tax brackets to 
just two, at 10 and 25 percent.
  We need to cut the capital gains tax, the dividends tax, and 
eliminate the inheritance tax. We need an improved R&D tax credit to 
give the American manufacturers the ability to compete globally. With 
these cuts, we need to ensure that hard-earned taxpayer dollars taken 
by the IRS are no longer subject to waste, fraud, and abuse.
  In the end, it is about simplifying and enabling American businesses 
to compete worldwide, putting more money into Americans' wallets than 
Uncle Sam's, and creating cash flow and opportunity for America. It is 
a winning formula. It has worked before. Let's try it again.
  In God we trust.

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