Cruz: Congress Must Overhaul Tax Code Or Suffer One of ‘greatest Missed Opportunities in Modern History'

WASHINGTON — Texas Sen. Ted Cruz on Wednesday urged his colleagues to fulfill a "fundamental promise" to overhaul the tax code, saying that Congress has a once-in-a-generation opportunity to "produce incredible results."Cruz, a key conservative voice, spoke in sweeping terms about a tax revamp that would center on growth, simplicity and fairness. He offered a vision of a tax system with reduced rates, fewer loopholes and the ability for most Americans to file their taxes on a postcard.And he invoked former President Ronald Reagan, who oversaw a major tax ovheraul, to frame the stakes."Will we step up and seize this opportunity?" he said in a 35-minute speech hosted by the Tax Foundation, a conservative-leaving Washington think tank. "Or will it be one of the greatest missed opportunities in modern history?"  Continue reading...