I wanted to update you on some new legislation that I have been working on to give taxpayers their receipts for their taxes. The Tax Receipt Act would show taxpayers exactly where their money is being spent and how much Uncle Sam borrows each year.
Under this legislation, every taxpayer who files an income tax return would receive an itemized receipt - similar to a grocery store receipt - from the IRS that lists where their payroll and income taxes are spent. The receipt would include key categories such as interest on the national debt, Social Security, Medicare, Medicaid, national defense, education, veterans' benefits, environmental protection, foreign aid - and, last but not least, Congress.
If you think this is a good idea, and a smart way to increase transparency, then I encourage you to sign up here in support of this effort.
Here are three upcoming events that I wanted to share with you.