May 18, 2017

Koch network to launch major campaign for tax reform

Phelan M. Ebenhack / AP

The political network helmed by billionaire brothers Charles and David Koch is about to embark on a multimillion-dollar campaign for comprehensive tax reform.

  • What to expect: Digital ads, grassroots organizing and likely a TV advertising campaign to rally the American public behind the need for a radical overhaul of the tax code.
  • The two groups leading the charge: the Kochs' grassroots army, Americans For Prosperity, and their political outfit Freedom Partners.
  • Where it fits with Trump: The Kochs, who did not support Trump's run for president, are now trying to help him, at least as far as tax reform is concerned. Koch network spokesman James Davis tells me the campaign will echo the tax reform principles that Trump released recently with his one page plan.

Quote from James Davis, Executive Vice President of Freedom Partners:

"We have a tremendous opportunity to unite behind a positive vision to pass comprehensive tax reform that will help people improve their lives, and un-rig the U.S. economy. But we need to start making the case to the American people now to successful."

Highlights of the Koch network plan:

1. "Simplicity":

"Reduce the number of income brackets." "Eliminate special interest tax credits and deductions for businesses and individuals." "Stop the cycle of tax extenders and annual changes to the tax code." "Simplify taxes on investment." "Eliminate the Alternative Minimum Tax." 2. "Efficiency": "Eliminate special interest tax credits and deductions for businesses and individuals.""Eliminate death and gift taxes.""Reduce tax rates on businesses.""Reduce tax rates on investment income to reduce double taxation."3. "Equitability":"Eliminate special interest tax credits and deductions for businesses and individuals."4. "Predictability": "End the cycle of tax extenders and quick-fix patches to the code.""Adopt a territorial system where U.S. companies are only taxed on the income they earn here in the U.S."5. "No burden on taxpayers":"Government has a spending problem, not a revenue problem. Tax reform can and must be done without saddling new taxes on American consumers, whether in the form of a BAT, VAT, carbon tax, or other tax increase."

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