Latinos have waited too long to get the tax relief they need.
I urge you to seize the opportunity to deliver much needed comprehensive tax reform to the American people.
Tax reform should follow five basic principles to ensure that reforms unleash economic growth and opportunity for U.S. Hispanics and all Americans. First, policymakers must simplify the code by lowering rates, reducing the number of brackets, and eliminating special loopholes and deductions in order to make compliance as easy and affordable as possible. Second, reforms should improve efficiency by establishing a broad-based, low-rate tax system that collects revenue with the least possible disruption to the economy. Taxes should also be equitable, eliminating harmful corporate welfare and special interest handouts that are contributing to the emergence of a two-tiered society in America. Fourth, policymakers should make taxes more predictable by eschewing any further short-term extenders or temporary patches. Finally, comprehensive tax reform should not include any new burdens on the American people, such as the disastrous Border Adjustment Tax that now appears to have been dropped from consideration.
The Hispanic community, and all Americans stand to benefit from reforms that get rid of loopholes that help the most powerful at the top of the pyramid. If you work together with your colleagues, to enact these changes, our economy will be stronger and our community more prosperous.
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