"The current 74,608-page federal tax code is broken, unfair, overly complex, and harms the average American family. That is why I strongly support simplifying our tax code so that families and small businesses can take charge of their finances, and lowering our corporate tax rate while closing unfair loopholes. I plan on putting Louisiana and America first, ensuring we remain a leader in innovation around the world."
The US tax code hasn’t been reformed for over three decades, and the world has changed dramatically. Our tax code has failed to evolve to meet the demands of a 21st Century global economy, driving companies out of the US and forcing American families to spend millions preparing personal income taxes. It is past time to modernize our tax code and put the United States on a level playing field with the rest of the word. A competitive corporate tax system should create incentives for companies to locate their headquarters, open more offices, and to produce more products for export from the United States, resulting in more jobs, more tax revenue, and a higher U.S. standard of living. Americans should also be empowered to prepare their own taxes and understand their personal finances.
More on Taxes
Congressman Higgins recently introduced legislation to repeal the rum tax cover-over program. Learn more about the cover-over, and how it is hurting rum producers in the continental United States.
WASHINGTON, D.C. - Congressman Clay Higgins (R-LA) has introduced H.R. 3476, a bill that repeals the cover-over of federal excise tax revenue from rum production and allows rum producers in the continental United States to better compete with producers in Puerto Rico and the U.S. Virgin Islands (USVI).
Federal excise taxes collected on rum in the United States, Puerto Rico, and the U.S. Virgin Islands are returned to the treasuries of Puerto Rico and the USVI. This revenue transfer is referred to as the cover-over.