Senate Concurrent Resolution 678

A CONCURRENT RESOLUTION URGING MISSISSIPPI'S CONGRESSIONAL DELEGATION TO SUPPORT PRO-GROWTH TAX REFORM BY ENACTING CERTAIN MEASURES RELATIVE TO FEDERAL TAXATION.

WHEREAS, the United States has the opportunity to enact once-in-a-generation tax reform at a time when our existing system is woefully out-of-date having not been updated in 30 years; and

WHEREAS, the United States has some of the highest income tax rates on small businesses and corporations in the world, putting American employers and workers at a great disadvantage relative to foreign competitors; and

WHEREAS, the tax code exceeds 75,000 pages imposing hundreds of billions of dollars and billions of hours in compliance costs on taxpayers; and

WHEREAS, the United States is one of the only modern countries that double taxes income earned overseas when it is brought back to America to be reinvested in the economy; and

WHEREAS, American businesses are currently forced to depreciate the cost of purchasing new equipment in an arbitrary way, forcing owners to make decisions based solely on the tax code; and

WHEREAS, the complex, out-of-date code suppresses economic growth at a time when our economy has grown at a stagnant 2% average in recent years, resulting in the creation of fewer jobs and lower wages:

NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF MISSISSIPPI, THE HOUSE OF REPRESENTATIVES CONCURRING THEREIN, That the Mississippi Legislature hereby requests our elected Senators and Representatives in the United States Congress to support pro-growth reform that fixes the aforementioned problems by lowering rates, repealing the Death Tax and the Alternative Minimum Tax, moving to territorial taxation and implementing full business expensing.

BE IT FURTHER RESOLVED, That copies of this resolution be transmitted to the members of the Mississippi delegation.