WASHINGTON, D.C. (KELO AM) South Dakota U.S. Senator Mike Rounds (R) has introduced legislation for across-the-board tax cuts for every American.
Senator Rounds says his bill would reduce the average South Dakota family's tax burden by 16 percent.
“There is a direct correlation between government policies and the economy," says Rounds, "In recent history, both President John F. Kennedy, a Democrat, and President Ronald Reagan, a Republican, governed during very turbulent economic times. Both initiated tax cuts that were followed by eras of economic growth and prosperity. It is time to repeat history."
The proposed legislation calls for a 2 percent rate cut in all tax brackets..
It's unclear at this early juncture, just how far Rounds plan will go in Congress, as it considers major tax reforms.
(The full text of Rounds tax cut plan is attached to the top of this story)