News

Tax Priority Job Number 1 According to IL Congressman

Tax Priority Job Number 1 According to IL Congressman

Photo: Newsradio WTAX

Tax code reform is the first priority for an Illinois congressman once federal lawmakers return to Washington.

U.S. Rep. Peter Roskam (R-Wheaton) believes simplifying the tax code is not something that has to wait until after the election. He points to controversy over companies like Deerfield-based Walgreens considering reincorporating overseas to avoid U.S. taxes as a sign that the tax code must be overhauled. Walgreens decided last week not to invert.

“Inversion is not a loophole, inversion is part of the tax code,” Roskam said, “and if we have a tax code that chases companies overseas, we’re gonna lose out as a result of that. So the urgency of this is upon us, and I think that the time is absolutely ripe to do it.”

Roskam is a member of the House Ways and Means Committee, which released draft legislation for reform earlier this year, touting it as the first significant changes to the tax code since 1986.

Recent Headlines

in Entertainment

This weekend in entertainment history

rainman

A look back on some of Hollywood's most memorable headlines.

in Music

Ozzy Osbourne to undergo surgery

British musicians Ozzy Osbourne of Black Sabbath, arrives at the Classic Rock Roll of Honour awards 2013 at the Camden Roundhouse in north London, Thursday, Nov. 14, 2013.

Ozzy Osbourne has cancelled his upcoming Ozzfiesta event in Mexico to undergo surgery.

in Entertainment

Angelina Jolie crowned world’s top feminist icon

Angelina Jolie arrives at the 20th annual Critics' Choice Movie Awards at the Hollywood Palladium on Thursday, Jan. 15, 2015, in Los Angeles.

Angelina Jolie and Emma Watson top the list of the world's foremost feminist icons.