Still Work To Be Done in Congress
This session of Congress is almost over, but there is still work to be done. Last week I introduced bipartisan legislation -- the Retirement, Savings, and Other Tax Relief Act -- which will build on the economic successes we see throughout our district, our state, and the country.
The legislation will help families save earlier in life and more over time for retirement and education. It allows small businesses to join together to provide retirement plans to their workers, and it will spur innovation by allowing new businesses to write off more of their initial start-up costs, helping them move from the kitchen table to Main Street.
Our new tax code also deserves a new tax collector. This new legislation offers the first reforms for the Internal Revenue Service (IRS) in twenty years by redesigning it into a “Taxpayer First” agency, focusing on customer service, while reining in IRS abuses. We create an independent appeals process that puts taxpayers on the same level as the IRS, allowing disputes to be resolved more fairly, affordably and quickly. We modernize the IRS to make sure personal taxpayer information is truly protected. And we prevent the IRS from seizing the assets of American taxpayers without due process.
It’s been a tough couple of years when it comes to natural disasters. We’ve certainly seen our own share of devastation here in Texas. Rebuilding is tough, which is why this legislation also offers temporary tax relief to families and cities that have been impacted by natural disasters. Together, we can--and will—help these communities rebuild.