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Simplifying the tax code to enhance fairness and promote economic growth
The lengthy and complex United States tax code can be difficult for Americans to understand.
Tax reform done right will promote economic growth, increase fairness and simplicity, and improve the nation’s fiscal outlook.
The budgetary and economic effects of proposed tax legislation are a critical element of the debate.
The federal government finances its operations with taxes, fees, and other receipts collected from many different sectors of the economy.
Most working Americans are subject to payroll taxes, which are usually deducted automatically from an employee’s paycheck. Employers are also often subject to these types of taxes.
Take our quiz to see how much you really know about how revenues are collected and federal funds are spent.
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.
The fairness of our federal tax system is a hotly debated issue. Too often, however, those debates confuse or misrepresent important facts because they focus on one type of tax in isolation rather than the various taxes that people face in aggregate.