By NATALEE CAPPS
The Republican Freshman House unveiled a new tax initiative last week designed to save money for the average American family.
Members of the GOP freshmen class labeled the initiative as the Family Reinvestment and Shaping Our Future Act to provide tax relief.
Congressman Chris Cannon, R-Utah, said the bill would alleviate the marriage penalty tax which currently does not allow married taxpayers who file jointly to raise their standard deduction. The bill would also exclude a portion of earned interest and dividends from being taxed as income.
The GOP freshmen first announced the development of this plan last September. The bill was designed to raise the health insurance deductibility rate for the self-employed and to expand college expenses and prepaid tuition plans to cover both private and public colleges.
According to a news release, House Speaker Newt Gingrich, R-Georgia, said he applauds the hard work in crafting this bill.
“I am pleased that it represents an attempt by the Republicans to make one more step toward lessening the stranglehold taxes have on America’s family and economy,” he said.
However, not all feel the necessity to change the current tax laws.
BYU alumna Erin Hansen said she received a tax break after she got married.
“My husband and I recently had a baby and we pay even less taxes than before. I really don’t see the need for more tax legislation,” she said.
Although most members of the BYU community don’t consider tax legislation to be high priority, residents of Provo made it clear to Cannon that changes needed to be made regarding taxes at a town meeting at Timpview High School Thursday night.
Complaints included the complexities of the current tax code and the corruption of the Internal Revenue Service.
“We cannot accept criminality (in the IRS),” said Richard Mack, a resident of Provo planning to run for sheriff.
