Hill Hosts Better Way Tax Reform Roundtable in Little Rock
LITTLE ROCK, Ark. – Congressman French Hill (AR-02) hosted a Tax Reform Roundtable at the Arkansas State Chamber of Commerce in Little Rock with Arkansas business leaders, tax professionals, and other stakeholders to discuss House Republicans’ plan for reforming the current tax code.
Earlier this summer, House Speaker Paul Ryan unveiled A Better Way, the House agenda to rebuild the economy and strengthen national security. A major component of that plan is a tax reform blueprint that outlines a simpler, fairer pro-growth tax code—one in stark contrast to the burdensome and costly tax code that exists today.
“We are putting forth an aggressive agenda to grow America’s economy, and a major pillar of that is tax reform because the current tax code is a never-ending mess that has nearly tripled in size over the past 30 years,” said Congressman Hill. According to the Tax Foundation, Americans spend over $400 billion and almost $9 billion in man hours each year in order to comply with the tax code.
Participants discussed a bevy of topics, including the importance of simplifying and lowering tax rates, incentivizing savings and investments, and reforming the corporate and international tax systems to make U.S. businesses more globally competitive.
“Our uncompetitive corporate tax rate has driven scores of major corporations out of the United States. For America to be on a level playing field with the rest of the world, we need to create an environment where businesses of all sizes can grow,” said Hill. “The House’s plan will lower corporate rates and provide parity for all business income, as well as create an internationally competitive tax system to make America a more attractive home for companies that will have a positive impact at all levels of our economy.”
The Arkansas State Chamber of Commerce has come out publicly in support of the Better Way tax reform blueprint, Randy Zook, President of the Arkansas State Chamber of Commerce, said, “We wholeheartedly support this effort to reform the current tax code and applaud Congressman Hill’s efforts. This is a much-needed plan that will stimulate growth in business and create jobs in Arkansas.”
The roundtable highlighted Arkansas’s diverse economy, as representatives from the agriculture, financial services, and international services industries discussed how the House Republican agenda could positively affect the economy in Arkansas.
“I was pleased by the reaction to the Better Way agenda from those in attendance. Having the input of those who truly are economic drivers in our community is invaluable to me as I continue my work in Congress to grow Arkansas’s economy,” said Hill.