Cramer Attends Tax Reform Roundtable in Minot
MINOT, N.D. – Congressman Kevin Cramer joined a tax reform roundtable hosted by Senator John Hoeven today with community leaders and city officials in Minot today.
The roundtable discussion was held as Republicans in Congress and the Trump Administration draft tax legislation expected to be voted on before the end of 2017.
In late-September, Republicans unveiled their unified Tax Reform Framework, which set key principles to be met as part of implementing tax reform. “A lower, simpler, and more globally competitive tax code will jumpstart our economy in ways we haven’t seen since Ronald Reagan,” said Cramer.
In the meeting, locals discussed issues of importance to North Dakotans including repeal of the death tax, stepped-up in basis, property tax deduction, and the interest deduction.
They also discussed the politics behind passing the bill and how economic growth has the ability to pay for the cost of the tax reduction and reduce our country’s deficit.
“We have the highest business tax rate among all industrialized nations,” said Cramer. “I think we undervalue how the simplicity of this plan can boost our economy.. By reducing taxes for Americans and American businesses, we’ll jump start our economy for families and workers, and get back to more than 3 percent growth. In addition, the vast majority of Americans will be able to do their taxes on a postcard. The power of simplicity matters for every-day Americans.”
Cramer emphasized the significance of hearing from local leaders in Minot about the ideas presented in the tax framework.
“We have the framework, but now we need to put in the walls and insulation by ironing out the details, and that’s why meeting with our local leaders is so important,” said Cramer. “Local business owners help John and I understand what the must-haves are in terms of credits and deductions beyond what the framework already has in place.”
Cramer plans to bring the ideas and opinions given during the roundtable today back to Washington where he will help Congress and the Trump Administration set priorities for the bill.
He is also working with leadership to ensure that safeguards remain in place for charities, home mortgages, and small businesses - including family farms. Last month, Cramer sent a letter tax reform leaders advocating for the permanent elimination of the death tax as well as preserving the ‘stepped-up basis’ provision, which maintains the growing value of assets for small businesses and farmers when they pass their businesses along to the next generation of family business owners.
Read the tax framework here.