Yesterday, families across America celebrated one of my favorite holidays—Independence Day. I spent the day flipping burgers and watching fireworks light up the sky. While most Americans enjoyed similar festivities, many forget the journey toward American freedom began over one small policy dispute with Great Britain—taxes!
Our founding fathers’ demand for “No Taxation without Representation” paved the way for the development of the America we know and love today. While our current tax system differs from the original colonists, it’s been a shockingly long time since it’s gotten an upgrade. In fact, the tax code’s last upgrade came barely 10 years after our nation’s bicentennial!
So as we finish up the celebrations for our 241st birthday, it seems reasonable that an upgraded tax system remains at the top of our wish list. Modernizing our tax code would help encourage innovation and inspire discovery across industries – and frankly, it’s long overdue. While there are a lot of important policies that go into supporting an innovation ecosystem, I’m hoping legislators will grant my wish for a new tax system by America’s 242nd birthday!