U.S. Rep Jim Jordan talked to 38 Tiffin Rotary Club members at the Community Civic Center Wednesday about broken tax reform and the need to fix federal spending.
"On the personal side, any tax cut that allows 47 percent of the population to not participate in the main income tax ... is broken," said the Urbana Republican.
According to a study done by Urban-Brookings Tax Policy Center in 2011, 46 percent of all working Americans are not liable for income tax, half of them through tax credits on expenditures.
PHOTO BY ROB LEDWEDGE
Rep. Jim Jordan, R-Urbana, speaks at the Tiffin Rotary meeting Wednesday at Community Civic Center.
Jordan talked about issues ranging from regulatory policy to fiscal policy.
"On the corporate side, any tax cut that says to American companies you're going to pay the highest corporate tax in the world when trying to compete in international market place, is stupid."
He also discussed the national debt, which is approaching $16 trillion, saying: "This year we're going to spend over $200 million in interest to service that debt," Jordan said.
Jordan, who represents Ohio's 4th Congressional district, did not offer specific suggestions on balancing the federal budget other than cutting spending.
He has been recognized for his tax reforms in 2006, when he was awarded a 100 percent lifetime rating approval from the Ohio Taxpayers Association.
He also is known for creating an Income Tax Reduction Fund, designed to lower the tax burden on Ohioans.