U.S. Senator Lamar Alexander (R-Tenn.) said today that “we need to get away from this highly complex tax system of ours.”
Alexander also said that “Americans should have the option of filing a one-page federal income tax return with a 19 percent rate for two years and 17 percent rate thereafter. This proposal would save money, encourage growth, and relieve a great deal of the anxiety that occurs every spring when April 15 rolls around.”
Alexander introduced the Optional One-Page Flat Tax Act last year to create an optional 17 percent federal flat tax with a single-page form. Americans would have the option of choosing this tax over the current income tax and its multi-page forms. Alexander said he would reintroduce the legislation this year.
The Senator said that recent passage of an amendment he cosponsored in the Senate puts Tennesseans one step closer to having their state and local sales tax deduction made permanent.
“The state and local sales tax deduction will mean on average $400 in tax relief each year for nearly 600,000 Tennesseans,” Alexander said. “That’s good news for our state’s economy and for family budgets. We’re getting closer, but we need to make sure we get a permanent fix for this.”