Congressman McHenry believes in lowering the tax burden on American workers, families and small business owners. As a Member of Congress, and previously as a State Representative in North Carolina, he has never voted for a tax increase. The Congressman strongly supports President Bush’s 2001 and 2003 tax cuts – the biggest since Ronald Reagan’s first term as President. But that tax relief is set to expire in 2010, and Congressman McHenry believes those reductions need to be made permanent.
The Congressman believes in moving toward either a flat tax – a one rate system where all Americans can file their taxes on a form no larger than a postcard – or a national sales tax. To achieve a flat tax, Congress must first permanently eliminate the Death Tax, the Alternative Minimum Tax, the Capital Gains Tax and move toward completely tax free savings and allow businesses to immediately and fully deduct their expenses. Congressman McHenry has joined caucuses aimed to eliminate all of these taxes, and move toward a flat tax.
With more than 1,100 forms and publications, America’s tax code has become a nightmare of complexity. A flat tax would simplify the system, and low taxes would encourage small businesses and workers to grow and thrive.