¶ Overview
- Mike Collins advocated for a Fair Tax system, including a flat tax or abolishing the income tax altogether.
- Mike Collins co-sponsored legislation to replace federal income taxes with a flat sales tax, despite it disproportionately benefitting wealthy individuals and burdens lower-income families.
- Mike Collins supported extending Trump's tax cuts, claiming they would fuel economic growth and prevent the largest tax increase in history.
- Trump's tax cuts primarily benefited Georgia's wealthiest households, businesses, and estates, with limited impact on low-income families.
- Mike Collins proposed repealing the Community Reinvestment Act, which addresses credit needs in underserved communities and responds to historical redlining practices.
¶ Mike Collins Looked Out For The Rich At The Expense Of Regular Georgians
¶ Mike Collins Called For A Fair Tax
Mike Collins Called To “Move As Close As Possible To A Flat Tax Or To The Fair Tax.” According to the Mike Collins plan, “The tax code is too convoluted, the IRS out of control, and Americans who pay their fair share are penalized. Taxes are burdening our businesses and families, thus slowing our economy. We must simplify the tax code and move as close as possible to a flat tax or to the Fair Tax. A simpler tax code will allow our economy to be robust and vibrant once again. I have signed the Americans for Tax Reform pledge and committed I will never vote for a tax increase.” [Mike Collins Plan – Overhaul DC, 2014]
Mike Collins Said He Was A “Proud And True Supporter” Of The Fair Tax. Mike Collins tweeted, “I am a proud and TRUE supporter of the #fairtax let's get the Feds out of our paychecks! #fairtax #GOP #freedom #taxreform #Mike2014” [Twitter, @MikeCollinsGA, 11/8/13]
Mike Collins Called For Repealing The 16th Amendment And To “Do Away With The Income Tax All Together.” Mike Collins tweeted, “Let's repeal the #16thamendment and do away with the #incometax all together! Americans deserve to keep what they earn #Fairtax #noincometax” [Twitter, @MikeCollinsGA, 11/19/13]
Mike Collins Co-Sponsored FairTax Legislation To Abolish The Federal Income Tax And Institute A Flat Sales Tax. According to the Savannah Morning News, “The gist of the proposal, Carter is quick to point out, is simple. Eliminate the federal income tax, the payroll tax, the estate and gift taxes, and for good measure, the Internal Revenue Service. Instead, the federal government would collect revenue through a flat sales tax that would total 23 cents out of every dollar a consumer spends. The bill, H.B. 25, is co-sponsored by 27 representatives, all Republicans, including five of the nine Republican congressional representatives from Georgia. Two of them — Andrew Clyde and Mike Collins — joined Carter to speak in favor of the proposal on the House floor. ‘While great reforms were made by President Trump in his 2017 tax cuts and jobs act, I believe the next step is to completely overhaul our overly complex tax code with the Fair Tax,’ Clyde said from the floor. In an op-ed for Fox News, Carter argued the fair tax would be revenue neutral (although that is contested) and simplify life for everyone,. It allows people, he argues, to choose how much tax they pay by how much they spend, while also capturing spending from visitors and others who would never report an income but do spend money. The longstanding proposal got more attention than it might otherwise have received when House Speaker Kevin McCarthy (R-California) promised to give the bill at least a committee vote, despite opposing the legislation himself. The bill, while having only some Republican support, has received opposition from Democratic leadership in the Senate and even President Joe Biden, who is also a Democrat. For supporters, though, the opposition is no deterrent to trying to push it. ‘You know the only way that big legislation is passed in this town is when the American people demand it,’ Collins said.” [Savannah Morning News, 4/21/23]
¶ Collins’ Legislation Would “Cut Taxes For The Wealthy” While “Increasing Taxes” For Low- And Middle-Income Retirees And Families
Center For American Progress: “Fair Tax Act Would Cut Taxes For The Wealthy While Increasing Taxes Paid By Low- And Middle-Income Retirees Who Live Off Of Social Security And Savings, As Well As Families Who Would Be Forced To Pay More Taxes On Everyday Goods And Services.” According to the Center for American Progress, “By shifting the foundation of the federal tax system from income to consumption, the Fair Tax Act would cut taxes for the wealthy while increasing taxes paid by low- and middle-income retirees who live off of Social Security and savings, as well as families who would be forced to pay more taxes on everyday goods and services. Meanwhile, high-income families who spend less of their income on consumption and who have sufficient earnings to save a substantial fraction of their income would pay a smaller share of their income in tax.” [Center For American Progress, 2/8/23]
Flat Sales Tax Was Regressive And Would Hit Low-Income People Harder. According to the Savannah Morning News, “Carter made a point to highlight potential criticism of the bill in his speech on the House floor. A major one is that the tax is regressive, hitting lower-income people harder. Wealthy people are more likely to spend money on assets, like investments, which would not be taxed, while lower-income people spend most of their income on consumption, said Richard McGrath, professor of economics at Georgia Southern University. ‘Which means that as a higher-income individual, I am paying taxes on much less of my income than a lower income household that is essentially living paycheck to paycheck,’ McGrath said. ‘And the term 'living paycheck to paycheck' means you're spending all of your income on consumption, which means you're paying taxes on all of your income.’” [Savannah Morning News, 4/21/23]
¶ Mike Collins CalledFor Extending The Trump Tax Cuts For The Wealthy
[AUDIO] Mike Collins Said We Need Trump Tax Cuts To Be Permanent. “Trump's tax cuts. We need those permanent. You know, my gosh, I was I was there. I was in private sector all my Trump tax cuts. But if we don't with those things expire this year, this going to be the largest tax increase in American history. $4.7 trillion is going to be the impact. And you gave me an impact on just Georgia families. But that is a huge number that will kill this economy and we don't need to let that happen. Border security. You know, when we first got started, President Trump did. He knows the executive orders to get that border secured. And my gosh, look at it now. It's incredible how much it has just decreased. But now we're going to go back. We're going to fight this stuff a lot and we're going to get that majority. All you need is 51 in the Senate. So, you know, we're happy. We're sighted where we're at with we just need to stick together and run this place and get it get it through for the American people.” [Mike Collins AFP Tele-Town Hall 4/21/25]; 250421_CV_1760
Mike Collins Called For Extending The Trump Tax Cuts And Said He Looked Forward To Getting “These Tax Cuts Across The Finish Line.” According to the US Chamber of Commerce, “‘It was great to hear from the U.S. Chamber of Commerce, Henry County Chamber of Commerce and small business leaders on what Congress can do to help supercharge their local economy. As a small business owner, I’ve seen first-hand how the current tax and regulatory environment can cripple businesses,’ said Congressman Collins. ‘We need to deliver tax cuts that fuel economic growth, and get rid of the needless regulations that are holding our businesses back and costing consumers thousands each year. The extension of the Trump Tax Cuts will deliver one of the largest tax cuts in American history, help small businesses grow and prosper, and prevent a tax hike while our national still recovers from Biden’s inflation. I’m looking forward to working with my colleagues to get these tax cuts across the finish line for Henry County and our country.’” [US Chamber Of Commerce, 3/24/25]
¶ Trump Tax Cuts Disproportionately Benefited The Highest Income Households, Businesses, And Estates In Georgia
Georgia Budget Policy Institute: Trump Tax Cuts Disproportionately Benefited The Highest Income Households, Businesses, And Estates In Georgia. According to the Georgia Budget Policy Institute, “In Georgia, the most significant consequence of the Tax Cuts and Jobs Act is that $43 billion in tax savings will be distributed through the federal tax code from 2020–2025, predominately benefitting the highest income households, businesses and estates. In 2020, the majority of $7.9 billion in total benefits will go to the state’s top-income earners. Although it is true that about 88 percent of Georgia taxpayers will receive some direct benefits from TCJA, families with incomes that rank them among the first 40 percent of households will receive less than 6 percent of the federal legislation’s total statewide impact. In terms of the state’s tax changes, Georgia still has an opportunity to leverage its unique tax code to maximize the benefits directed to working families. For most households that fall outside of the upper-middle-class, the federal tax cuts will do relatively little to change their annual earnings.” [Georgia Budget Policy Institute, 8/12/19]
¶ Mike Collins Wanted To Abolish The Community Reinvestment Act
Mike Collins Called For Repealing The Community Reinvestment Act. According to the Mike Collins plan, “We must reduce government regulations in order to allow businesses to grow. In the first three years of the Obama administration, 106 new major regulations were enacted, costing Americans $46 Billion annually to comply. We should repeal Sarbanes-Oxley and Dodd-Frank, two burdensome financial regulations which allow bureaucrats to stifle small banks. We should repeal the Community Reinvestment Act and break up Fannie Mae and Freddie Mac into small private banks, diverting any future mortgage crisis. We must also scale down both the Environmental Protection Agency and the Food and Drug Administration to reduce their adverse impact on the industries they are regulating.” [Mike Collins Plan – Overhaul DC, 2014]
¶ CRA Was Created To Respond To America’s History Of Redlining, And Focused On Ensuring That Banks Respond To The Credit Needs Of The Communities In Which They Do Business
Community Reinvestment Act Was Created To Respond To America’s History Of Redlining, And Focused On Ensuring That Banks Respond To The Credit Needs Of The Communities In Which They Do Business. According to the Urban Institute, “The Community Reinvestment Act (CRA), first passed by Congress in 1977, was created to respond to America’s history of redlining, in which lenders refused to lend to Black and Latino households and other households of color. Although the CRA does not explicitly consider race or ethnicity at the national level, it does focus on ensuring that banks respond to the credit needs of the communities in which they do business.” [Urban Institute, 7/18/23]