[Congressional Record (Bound Edition), Volume 160 (2014), Part 12]
[House]
[Page 17248]
[From the U.S. Government Publishing Office, www.gpo.gov]




                               TAX REFORM

  The SPEAKER pro tempore. The Chair recognizes the gentlewoman from 
North Carolina (Ms. Foxx) for 5 minutes.
  Ms. FOXX. Mr. Speaker, last week, the House passed legislation to 
extend a number of individual and business tax provisions that expired 
on December 31, 2013. This legislation would reinstate the provisions 
retroactively and extend them through the end of 2014.
  As a former small business owner, I recognize the tremendous cost 
that Federal policy can have on American businesses and believe the 
temporary extension of many of these tax breaks is necessary. However, 
I have long been a consistent and vocal supporter of simplifying the 
Tax Code and decreasing the tax burden of hardworking Americans.
  If you listen to the political discussion in our country very long, 
you will inevitably hear some liberal lawmakers repeat one of their 
favorite lines: all of our country's budget problems would be solved if 
only we increased taxes. But our old friend across the pond, Mr. 
Churchill, once said: ``A nation trying to tax itself into prosperity 
is like a man standing in a bucket trying to lift himself up by the 
handle.'' History has shown the truth of this statement: increasing 
taxes increases government spending and crowds out private sector 
investment, diminishing our prosperity.
  It is ridiculous that Americans labor, on average, 111 days just to 
make enough to pay the government before starting to keep what they 
earn for the year.
  At 70,000 pages long, the U.S. Tax Code is also far too complicated. 
It is almost five times wordier than the Bible, minus the grace and 
mercy. It is so complex and intimidating that the majority of Americans 
pay good money just to have someone else tell them how much the 
government is going to take from them.
  It is also important that we reduce the number of loopholes in the 
Tax Code, which is why I have voted for the budget proposals introduced 
by Chairman Ryan since Republicans regained the majority in the House 
of Representatives in 2011. These Path to Prosperity budgets provide 
for comprehensive tax reform, close loopholes, and make our country 
more economically competitive.
  The simple truth is that the United States has the highest corporate 
tax rates in the developed world. Continuing to make it more expensive 
to do business in the U.S. than elsewhere in the world will not 
encourage companies to operate and keep jobs in this country.
  As we move forward with comprehensive tax reform in the 114th 
Congress, it is vital that we enact policies that strengthen and 
stabilize our economy as well as give individuals and businesses long-
term certainty.

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