I believe tax policy should encourage investment in American businesses and families through a fair and simple system with low, competitive tax rates. Fair means higher-income individuals pay a higher rate than lower-income individuals, and simple means that the system can be easily navigated. Low and competitive rates require Congress to limit government spending and stick to a budget.
These principles guided me during my first years in the Senate as I fought against both tax cuts for the wealthy and tax hikes on the middle class. Instead, I introduced bills to force budgetary restraint and simplify the tax code. Had I been in the Senate at the time, I would have supported the 2017 Tax Cuts and Jobs Act as it provided individual income tax cuts to 80 percent of tax-filers and made our corporate tax rate competitive with the rest of the world. I oppose the Biden Administration’s efforts to raise taxes because it will send more jobs overseas, make the U.S. less competitive, and discourage wage growth in the United States.