ATR President Grover Norquist sent the following letter to Congressman Jim Jordan today:
On behalf of Americans for Tax Reform, I am pleased to endorse H.R. 5029, the Economic Freedom Act, a bill that would substantially reduce taxes in several areas as well as promote economic growth through the elimination of wasteful spending.
Some of the key provisions in this bill include the elimination of the individual and corporate capital gains tax, the elimination of the death tax, the reduction of the corporate income tax rate to 12.5%, and the reduction of the payroll tax in half for 2010 for employers and employees. Furthermore, the bill pushes for the termination of the TARP program and the repeal of the “stimulus” spending (except for unemployment benefits and the tax cuts).
This bill would push the economy in a freer and more prosperous direction. H.R. 5029 is an essential piece of legislation that must be passed.