By Tim Kowols
No bill is perfect, but Rep. Mike Gallagher of Wisconsin’s 8th District hopes the House of Representatives’ passage of a tax reform bill will be better than what has become the status quo. The partisan-passed bill aims to cut the corporate tax rate, simplify the tax code and allow more people to keep more of their money. Rep. Gallagher from Wisconsin’s 8th District says there is plenty of work to do, but something had to be done.
Echoing the sentiments of U.S. Senator Ron Johnson, Rep. Gallagher says one change he’d like to see involves the pass-through tax rate, which according to Cornell University refers to how individual owners of businesses pay taxes on income derived from that business on their personal tax return.
Critics of the tax reform bill say it eliminates too many deductions and unfairly benefits the wealthy. Rep. Gallagher hopes the tax reform bill is signed into law by the end of the year.