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H. 4825

STATUS INFORMATION

Concurrent Resolution
Sponsors: Rep. Viers
Document Path: l:\council\bills\ms\7087ahb06.doc

Introduced in the House on March 15, 2006
Currently residing in the House Committee on Invitations and Memorial Resolutions

Summary: U.S. tax code

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   3/15/2006  House   Introduced HJ-100
   3/15/2006  House   Referred to Committee on Invitations and Memorial 
                        Resolutions HJ-100

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

3/15/2006

REQUESTING THAT THE CONGRESSIONAL DELEGATION OF THE STATE OF SOUTH CAROLINA WORK TO REFORM THE UNITED STATES TAX CODE.

Whereas, the United States tax code has become increasingly complex and burdensome for American families and businesses; and

Whereas, Congress has enacted 15,000 changes to the tax code since 1986 with each change resulting in more complexity and burdensome requirements on American taxpayers; and

Whereas, increased complexity and lack of transparency creates substantial uncertainty for taxpayers in figuring out their tax bill each year; and

Whereas, the tax base has become increasingly diluted as tax deductions for particular economic activities received special preferences; and

Whereas, American families and businesses in 2004 spent 3.5 billion hours filling out their tax forms, costing one hundred fifty billion dollars just to ensure taxes were paid correctly; and

Whereas, high marginal tax rates on income and investment penalizes work, savings, and investment; and

Whereas, multiple layers of double taxation on savings and investment coupled with increasing compliance costs are reducing economic growth, job creation, and household savings; and

Whereas, tax law changes have not kept pace with a growing and dynamic international economy, thus leaving American workers and businesses at a significant competitive disadvantage with foreign competitors; and

Whereas, for America to continue to be a leader in the global economy, Congress needs to enact tax reform which greatly reduces compliance costs, eliminates double taxation of savings and investment, and taxes income one time at one rate; and

Whereas, the members of the South Carolina General Assembly request that our elected Representatives and Senators in the United States Congress support tax reform, which includes moving to a system that greatly reduces compliance costs, eliminates double taxation of savings and investment, and taxes income one time at one rate. Now, therefore,

Be it resolved by the House of Representatives, the Senate concurring:

That the members of the General Assembly of the State of South Carolina, by this resolution, request that the Congressional Delegation of the State of South Carolina work to reform the United States tax code.

Be it further resolved that a copy of this resolution be forwarded to the Congressional Delegation of the State of South Carolina.

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