LATTA INTRODUCES “TEA ACT”
This week, Congressman Bob Latta (R-Bowling Green) introduced H.R. 5959, the Tax Education and Accountability Act (TEA Act).
This legislation will repeal the provision in law that requires employers to deduct or withhold federal taxes from an employee’s paycheck, therefore requiring individuals to pay their own tax liability on a quarterly basis.
“With this legislation, taxpayers will have a much better concept of exactly how much money Washington is taking from their paychecks. Armed with this knowledge, it is my sincere hope that more taxpayers become interested in knowing exactly what their taxes go towards and how severe the out of control spending is under the Obama Administration and the Democrat Congress. As our nation faces a record deficit of over $1 trillion for the second straight year and a $13 trillion debt that will hit $20 trillion by 2020, we are on a path towards fiscal disaster and the only way to stop it is for more people to be aware of what is happening right now with the taxes they send to Washington,” Latta stated after introducing the legislation.
H.R. 5959 has been referred to the House Ways and Means Committee.