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Alliance Advocacy Report |
August 2007 |
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Real Tax Reform
The following is a statement issued to Alliance Members from Senator Johnny Isakson, GA.. He has experience as a small business owner; serving as President of Northside Realty for 20 years. In 1999 Johnny was elected to the United States House of Representatives for his first of three terms before being elected to the United States Senate in November of 2004. Johnny Isakson is a family man, businessman, and public servant.
 True tax reform is not a simple “tweaking” of the current tax code. Weighing in at over 1.6 million words in length, the current code has been “tweaked” enough. Thanks to special interest groups and the Internal Revenue Service, the tax code has become nothing more than a Rubik’s cube of tax jargon and carve outs. In fact, the average person spent over 10 hours last year completing their 1040. That’s 10 hours each taxpaying American wasted last year trying to comply with a system of rules so technical that three in five tax filers have to use paid preparers.
Fed up with the lack of true tax code reform in Washington, I have introduced my own legislation to terminate the current tax code on December 31, 2010. By killing the current tax code, my legislation forces us to come up with a simpler and fairer tax code by July 4, 2010, or forces Congress to vote to reauthorize current code by a majority vote. My legislation requires a top-to-bottom review of the current structure and provisions of our tax code, including exploring options for replacing the current system with a flat income tax or a national sales tax. It is critical that any fundamental tax reform be as seamless as possible by providing a transition plan. Therefore, another priority of my bill would be to examine the costs that any transition would have on American citizens, businesses and government.
Having managed a family owned-and-operated real estate business in Marietta, Georgia, I know first hand the burden our current tax code imposes on small business and families alike. The time has come for us to slay the monstrous tax code we’ve created. By passing my bill we can finally generate true tax reform: tax reform that leaves us with a simpler and fairer system. I will continue to make it one of my top priorities in the U.S. Senate to work for true fundamental tax reform.
SBA Program Extension Undercover
There was a bill signed into law in February, stemming from H.R. 434 in the U.S. House, which extended Small Business Administration (SBA) programs and subsidies from January 1 until July 31, 2007. These provisions are now set to expire, unless there is a reauthorization placed to further extend the SBA programs until December 31, 2007.
This bill provides small businesses and individual entrepreneurs with:
Federally guaranteed loans A level playing field for government contract bids Grants for women and minority owned businesses Special government lending authority Corporate education grants
There are also many other incentives for small businesses and individual entrepreneurs throughout the country. That is why it is essential that Congress reauthorizes an extension for the SBA programs until December 31, 2007, in order to enable the growth and sustainability of the foundation of our economy, the American small business owner.
To read more, search H.R. 434 at www.thomas.gov.
Let your voice be heard! Your involvement is needed in order to enable the Alliance’s voice to be strong on Capitol Hill. Sign up for the Action Team. You’ll receive critical alerts related to legislation of interest, and calls for “Action” when we need you to call and email, influencing Members of Congress when these critical small business reforms are proposed. Advocacy can be most effective with you involved, and together we can make a difference!
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