There was a transformational shift in American politics with the election of Donald Trump. Frustrated by the status quo, the electorate sent a message to Washington that it’s ready for a different path.
Americans are tired of Washington, and they are frustrated with the size and growth of the federal government. One thing they face every year is the 74,000-page tax code. With Donald Trump’s election and Republican majorities in Congress comes a generational opportunity on fundamental tax reform, one that could help create an atmosphere for meaningful economic growth and greater opportunities for all Americans.
It has been more than 30 years since Congress reformed the tax code. Since then, the tax code has grown more complex and onerous. The Tax Foundation estimated that Americans spent nearly 9 billion hours and spent $409 billion to comply with the tax code in 2016. The amount of money spent on tax compliance is greater than the gross domestic product of Maryland.