Coats Says Anemic 0.5% Growth is Unacceptable
Senator Dan Coats (R-Ind.), the chairman of the Joint Economic Committee, spoke on the Senate floor about Thursday’s announcement by the Bureau of Economic Analysis that the U.S. economy grew by only 0.5% in the first quarter of 2016.
Coats Opening Statement: JEC Hearing -- Is Our Complex Code Too Taxing on the Economy?
Joint Economic Committee Chairman Dan Coats (R-Ind.) delivered an opening statement during a hearing on tax code complexity entitled “Is Our Complex Code Too Taxing on the Economy?”
Happy Tax Day!
Tax Fact of the Day: Dr. Art Laffer estimates that income per person in America would increase if the tax code were less complex.
Countdown to Tax Day -- Day 1
Tax Fact of the Day: Federal tax law, including the tax code, regulations, and important cases, grew to over 74,000 pages in 2014.
Countdown to Tax Day -- Day 2
Tax Fact of the Day: The tax code is so complex that 90% of taxpayers use a paid preparer or buy software to figure out their tax burden.
Countdown to Tax Day -- Day 3
Tax Fact of the Day: Estimates of what it costs taxpayers in a single year to comply with the tax code range from $233.8 billion to $431.1 billion to as high as $987 billion.
Countdown to Tax Day -- Day 4
Tax Fact of the Day: Americans waste 6.1 billions hours per year figuring out taxes... and that doesn't even include the tax burdens from Obamacare.
Countdown to Tax Day -- Day 5
Tax Fact of the Day: Delaying pro-growth tax reform means a smaller economy, fewer jobs, and less investment in America.
Countdown to Tax Day -- Day 6
Tax Fact of the Day: Pro-growth tax reform could boost our anemic economic growth.
Countdown to Tax Day-- Day 7
Tax Fact of the Day: America is one of very few countries that still punishes its companies for investing profits earned overseas back home.