Tax Reform Should Take a Starring Role at the State of the Union
Tonight President Obama will give his fifth State of the Union address to the nation. This will give the President an opportunity to lay out his agenda for the coming year in front of Congress and the American people. Year after year we see a laundry list of policies that spend more taxpayer money and attempts to rally the President’s base behind ideas that go nowhere fast. Even though there are many topics that taxpayers would like to be addressed such as the failed roll out of Obamacare or a debt that has eclipsed $17 trillion and the numerous ways to cut spending, one topic that may receive bi-partisan support is tax reform. The US corporate tax rate is the highest in the world and our entire US tax code grows more complicated as each year sees new rules and regulations burdened upon the taxpayers who are in desperate need of relief from a system that hasn’t had comprehensive reform in nearly three decades. This year is a prime time for tax reform to take shape and there’s no better time to set the tone for meaningful, comprehensive, and bipartisan reform than with the State of the Union. Congress will be in attendance and many of the key players in the tax reform debate will be paying careful to attention to what the President will say.