Senate Concurrent Resolution 574

A CONCURRENT RESOLUTION REQUESTING THAT THE CONGRESSIONAL DELEGATION OF THE STATE OF MISSISSIPPI 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 $150 Billion 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 is 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:

NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF MISSISSIPPI, THE HOUSE OF REPRESENTATIVES CONCURRING THEREIN, That the State of Mississippi requests our elected Representatives and Senators in the United States Congress to support tax reform which moves to a system which greatly reduces compliance costs, eliminates double taxation of savings and investment, and taxes income one time at one rate.

BE IT FURTHER RESOLVED, That copies of this resolution be transmitted to the State of Mississippi's Congressional Delegation and the President of the United States, and be made available to the Capitol Press Corps.