Tax reform proposal announced at Louisville UPS hangar
LOUISVILLE, KY (WAVE) - UPS was the host of a big meeting Tuesday morning, with tax reform as the topic of discussion.
CEO David Abney and House Ways and Means Chairman Representative Kevin Brady introduced a new tax reform plan.
The plan was presented in three parts:
The first part focuses on job growth and lowering tax rates for all business sizes. It includes writing off building investments during the first year of business.
The next part focuses on families and simplifying the current tax code with a post card system. The proposal will flatten the tax bracket and protect more of the first dollars earned. It will reduce taxes on savings and investment dollars by nearly half, to reward those who save and encourage more investments.
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The third part of the proposal focuses on the service delivered by the IRS. It proposes small claims court access for families who have a disagreement with the IRS. This will prevent thousands of dollars being spent to solve issues.
UPS employees and local business owners weighed in with their thoughts on the proposal during the meeting.
Abney and Brady plan to get this proposal to President Trump's desk by the end of this year.
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