Rounds Introduces Legislation to Provide Tax Relief to Every South Dakota Family and Business
Would Result in 16 Percent Tax Cut for the Average South Dakota Family
WASHINGTON—U.S. Sen. Mike Rounds (R-S.D.) today introduced legislation that reduces the average South Dakota family’s tax burden by 16 percent. This is accomplished by a simple 2 percent rate cut in each tax bracket.
“Throughout our history, when government regulations and taxes have been moderated, economic freedom and prosperity thrive,” said Rounds. “There is a direct correlation between government policies and the economy. In recent history, both President John F. Kennedy, a Democrat, and President Ronald Reagan, a Republican, governed during very turbulent economic times. Both initiated tax cuts that were followed by eras of economic growth and prosperity. It is time to repeat history.
“Lowering the tax rate is but one step we can take to overhaul the tax code to provide direct, immediate relief to hardworking families and jolt our economy. Cutting taxes, coupled with reducing regulations, will allow our economy to heal from eight years of stagnant growth and once again prosper and flourish.”
Text of Rounds’ legislation can be found below.
Rounds’ op-ed on his tax relief legislation ran in the Argus Leader today. Read it HERE.
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