Tax Fact: Our Tax Code Isn't Keeping Up With The Times

Our economy has evolved immeasurably since Washington last overhauled the tax code in 1986.

Just consider all the indispensable products and technologies that have been introduced in the years since. 

  • Smart phones (1992)
  • Text messaging (1992)
  • The web browser (1994)
  • Digital music players (1997) 
  • Hybrid cars (1997)
  • Wi-Fi (1991)
  • Webmail (1995)
  • The World Wide Web (1989)
  • The search engine (1990)
  • Social media (1997)
  • DVR (1999)
  • Seedless watermelons (1988)

We need a tax code that keeps pace with those changes, one that reflects the globally connected marketplace in which businesses and their workers have to respond in an instant to consumer demand. We can't afford to fall further behind. That is why Congress needs to enact bold reforms now.