Our current tax code is too complex, inefficient and long overdue for reform. The last major reform occurred 29 years ago when President Reagan signed the 1986 Tax Reform Act. Over this period of time, the tax code has grown by more than 40,000 pages. Additionally, according to the National Taxpayers Union, the cost of tax preparation cost taxpayers and businesses an estimated $202.1 billion this past year, due to 6.1 billion hours in labor lost complying with the tax code. I believe we must streamline our tax code, broaden our tax base and lower rates across the board. Making these changes will benefit the economy and protect hard-working South Dakota families from higher taxes.
Rounds to Leader Schumer: Take Up Legislation to Stop Hiring of 87,000 New IRS Agents
Rounds, Braun Introduce the IRS Customer Service Improvement Act
ICYMI: Rounds Joins Washington Post Live to Discuss the Cattle Market, Ransomware, Infrastructure and Voting Rights
COVID-19 Relief Available for South Dakota Families and Businesses
Working for South Dakotans
Rounds’ Cadillac Tax Repeal Legislation Included in Omnibus Appropriations Bill
Rounds, Colleagues Urge Congressional Leadership to Fully Repeal “Cadillac Tax”