Strengthening the Economy and Advocating for a More Fair Tax System
Vision: An invigorated U.S. economy where small and medium businesses (SMBs) and individuals benefit from a streamlined regulatory environment and a transparent tax system, driving job creation, innovation, and prosperity for all.
Know more about
Swift Regulatory Action:
- Issue executive orders targeting regulatory reforms that impede SMBs, streamlining complex regulations and reducing compliance costs.
- Direct agencies to simplify permitting processes and minimize excessive paperwork, allowing SMBs to concentrate on growth and innovation
Dedicated Task Forces:
- Establish task forces devoted to SMBs, formulating recommendations for reforms that nurture their growth and ensure their success.
Vocal Advocacy and Public Awareness:
- Use the presidential platform to underscore the essential role of SMBs in the economy and highlight the potential benefits of a fairer tax system.
Engagement and Feedback from the Executive Branch:
- Direct relevant agencies to engage with SMBs, taxpayer advocacy groups, and proponents of tax reform, understanding their perspectives and shaping policies grounded in their feedback.
Facilitating Federal Contracting Opportunities:
- Instruct federal agencies to expand contracting opportunities for SMBs, making their participation in federal projects simpler.
Collaboration with Congress for Meaningful Reform:
- Identify additional regulatory reforms that benefit SMBs.
- Advocate for the implementation of the FairTax, which envisions:
- Elimination of the Income Tax: Replace current income and payroll taxes, thereby simplifying the tax code.
- Introduction of a National Sales Tax: A transparent national retail sales tax on new goods and services, ensuring fairness.
- Monthly Prebate to Citizens: Provide monthly payments to citizens to offset tax costs on basic living expenses, ensuring the tax is progressive.
- Promotion of Savings and Investment: By not taxing used items and savings, the FairTax encourages financial security and investments.
- Stimulating Economic Growth: With the removal of payroll and corporate taxes, businesses are free to innovate, invest, and grow, leading to more jobs and a stronger economy.
Commitment: My administration is resolutely committed to reinvigorating the economy, bolstering SMBs, and transforming our tax system through the FairTax. Through decisive actions and collaboration with Congress for broader reforms, we are dedicated to ushering in an era of economic prosperity and transparent taxation. Together, we envision a future where businesses flourish, and individuals enjoy the benefits of a straightforward, fair tax system.