South Dakota’s lone US House Representative says the Ways and Means committee plans to release its blueprint of federal tax reform in several weeks.
Congresswoman Kristi Noem says the finer details are still being debated.
A federal tax overhaul is second on a list of reforms the Republican led House, Senate and Whitehouse want to accomplish during their majority held in all three branches… that, along with healthcare reform.
Congresswoman Kristi Noem has been on the House Ways and Means Committee for a year and half. She says she’s encouraged by analysis from the right-leaning Tax Foundation,which says “the full [tax reform] package is estimated to increase [the country’s] GDP by about 9 percent over the long term.”
“I don’t think we’ve ever seen that kind of growth in our economy and that would be wonderful. When the Tax Foundation puts out that kind of analysis it tends to be a conservative number,” Noem says. “I think we would be thrilled to see the economy turn around no matter what. We just have not had good growth and jobs created and opportunities for the average American for several years. We really need to come out of this stalemate we’ve been experiencing when seeing growth.”
Since the Great Recession, GDP growth in the United States has jumped anywhere from 1.5 to 2.5 percent.
Noem says the goal with tax reform is to lower rates for everyone, reform the IRS, and to get rid of loopholes and exemptions by simplifying the tax code.
Noem says it’s been 30 years since there’s been tax reform at this level.
It’s a reform Noem hopes to help accomplish before returning to South Dakota to run for governor next year.