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A MEMORIAL

REQUESTING THAT THE NEW MEXICO CONGRESSIONAL DELEGATION WORK

TO REFORM THE UNITED STATES TAX CODE.

WHEREAS, the United States tax code has become

increasingly complex and burdensome for American families and

businesses; and

WHEREAS, congress has enacted many changes to the tax

code since 1986, with each change resulting in more complexity

and burdensome requirements on American taxpayers; and

WHEREAS, increased complexity and lack of transparency

creates substantial uncertainty for taxpayers in figuring out

their tax bills each year; and

WHEREAS, the tax base has become increasingly diluted as

tax deductions for particular economic activities receive

special preferences; and

WHEREAS, high marginal tax rates on income and

investment penalize work, savings and investment; and

WHEREAS, multiple layers of double taxation on savings

and investment coupled with increasing compliance costs are

reducing economic growth, job creation and household savings;

and

WHEREAS, tax law changes have not kept pace with a

growing and dynamic international economy, thus leaving

American workers and businesses at a significant competitive

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disadvantage with foreign competitors; and

WHEREAS, for America to continue to be a leader in the

global economy, congress needs to enact tax reform that

greatly reduces compliance costs, eliminates double taxation

of savings and investment and taxes income one time at one

rate;

NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF

REPRESENTATIVES OF THE STATE OF NEW MEXICO that the members of

the New Mexico congressional delegation be requested to

support tax reform that moves to a system that greatly reduces

compliance costs, eliminates double taxation of savings and

investment and taxes income one time at one rate; and

BE IT FURTHER RESOLVED that copies of this memorial be

transmitted to each member of the New Mexico congressional

delegation.