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

Coming soon: The Mustache Hall of Fame

burtreynolds

There are halls of fame for everything from baseball to rock 'n' roll, so why not those with a hairy upper lip?

in Music

Pink Floyd warns album ‘not for iTunes generation’

pinkfloyd

David Gilmour has warned the band's younger fans they might not enjoy the upcoming album.

in Entertainment

Inspiration for ‘Harry Potter’ nemesis revealed

harrypotter

J.K. Rowling says the much-hated character Dolores Umbridge is based on a teacher to whom she took an instant dislike.