Federal Taxes

Keeping federal taxes low and reforming U.S. tax policy remain two of Senator Sununu’s highest priorities in the Senate. The current bloated tax code imposes inefficiencies and harmful impacts on taxpayers, businesses and the entire U.S. economy. Further, its distortive structure contains thousands of special exemptions that unfairly favor some industries and activities over others. In its place, Senator Sununu has fought for a sound tax policy that takes as little as necessary from American taxpayers and returns decision-making to individuals and families. Low tax rates have proven to generate sufficient revenue for a small, but effective Federal government, while also facilitating robust economic growth for the country.

Ban on Internet Taxes – John led the effort to enact the longest moratorium on Internet access taxes, and his bill on the issue became law. At a time when the Internet has become a critical component to economic growth of small businesses and a communications tool for all Americans, Senator Sununu recognizes that taxing Internet access would raise prices and lower adoption of technology. By taking a strong, principled position, Senator Sununu was able to negotiate an extension of the current moratorium and make important improvements to strengthen the ban. These actions prevent State and local governments from imposing all types of taxes on Internet access and broadband services.

Maintaining Lower Taxes – John has fought to make permanent the federal tax cuts made over the last decade, including lowering the overall tax rates for all Americans, preventing taxpayers from being captured by higher tax brackets, ending the marriage penalty, lowering taxes on investment, and providing a per child tax credit for families. These lower rates have been successful in stirring investment by individuals and businesses. Allowing these tax cuts to expire would represent the largest tax increase in the history of the world.

Small Business Taxes – John has helped lead an effort to allow small businesses to write-off new purchases of equipment at an accelerated pace to reflect actual use in the marketplace. The antiquated and complex tax provisions imposed burdensome filing provisions on small businesses and needlessly delayed purchasing decisions.

Eliminating the Death Tax – Small business owners seeking to leave the family business to loved ones are unfairly penalized by punitive estate taxes. Through extra taxes imposed when the business owner dies, many families are forced to sell the business just to pay the taxes owed. John has supported numerous efforts to repeal federal estate taxes, allowing for the continuation of family traditions.

Reforming the Tax Code – By making the tax code simpler and fairer, current inefficiencies will be turned into new investment and savings; it will also ease tax compliance for individuals and businesses. John supports efforts to repeal the current code, forcing Congress to replace it with an alternative method or risk losing revenues. Moreover, he supports moving to a flat tax structure with one rate that is applied to all income.

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