A legislation for overall tax reform co-authored by Senator Mark Begich and introduced in last years session, is slated to be back in Congress.
Democratic Rep. Ron Wyden from Oregon, Republican Rep. Dan Coats of Indiana, and Sen. Begich co-authored The Bipartisan Tax Fairness and Simplification Act.
Sen. Begich explained the summary of the legislation.
Sen. Begich: “The way we’ve crafted this legislation is again to focus on working folks and middle class Americans to make sure they get the fair deal here, getting rid of tax loopholes simplifying it, and then helping our small businesses and limit their paperwork that they have to file.”
One way the legislation simplifies taxes for Americans is by reducing the 1040 IRS form to a straightforward and shortened one page.
Sen. Begich said he feels the Bipartisan Tax Fairness and Simplification Act has received new life since Rep. Wyden from Oregon became the chairman of the Senate Finance Committee.
Sen. Begich: “That simple change in leadership of the Finance Committee. So I’m very excited, I don’t know if we’ll get anything to the floor this year but just the fact that we’re talking about it again indicates that there’s growing interest.”
With recent talks of tax reform in the House and Senate, Sen. Begich added that he hopes it will start a needed tax reform that has not been seen since 1986.
