7 Ways Tax Reform Helps Middle-Class, Everyday Americans Throughout Life

Over the last decade too many hardworking Americans have struggled to find good-paying jobs, make ends meet, provide for their families and plan for their retirement. They are the focus of the new United Framework for Tax Reform, the blueprint for creating new jobs, growing paychecks, and bringing fairer taxes for everyday Americans across our country. The House Ways and Means Committee and the Senate Finance Committee will be using this document as a guide as they begin to flesh out the legislative details of our plan for pro-growth tax reform. And the best part? You can see the framework for yourself at fairandsimple.gop.

The framework is focused on strengthening and growing the middle class, keeping more money in people’s pockets, and building a stronger America. Our tax code should be working for, not against, middle-class families.

Here are seven ways our framework helps middle-class Americans throughout their life.

 1. When starting a career…

The Republican framework offers the lowest tax rates in modern history for businesses of all sizes. In other words, businesses will grow, which means more employment opportunities for the everyday American.

The framework also consolidates our current seven tax brackets into three (12%, 25%, and 35%) and doubles the standard deduction. This means American workers can keep more of their paychecks.

 2. When buying a home…

The Unified Framework for Tax Reform protects the tax benefits for mortgage interest giving middle-class families the tax relief they need to be able to own a home.

 3. When raising and family and educating their kids…

With an enhanced Child Tax Credit, middle-class families will get additional help with the cost of raising a family. The framework also maintains higher education tax relief to help families save for and better afford tuition and other expenses.

 4. When starting a business…

Under the current tax code, Main Street job creators can be taxed at individual rates higher than 40 percent. Now, with the new framework, these small businesses will be taxed at no more than 25 percent, allowing them to grow and succeed.

 5. When giving back…

Charitable contributions will be preserved under the new framework. Americans will be encouraged and rewarded for giving back to their local church, charities, community organizations, etc.

 6. When preparing for retirement…

Savings and investments will be rewarded under the new tax code, not penalized. Middle-class families will be better equipped to prepare for the future, save, and invest in more secure and comfortable retirement.

 7. For your children and grandchildren…

We are repealing the unfair Death Tax. Americans will no longer face double (sometimes triple) taxation on family assets or family-owned businesses when they pass down their life’s work to their children and grandchildren.

Americans deserve a tax code that works for, not against them. The United Framework for Tax Reform values and rewards hardworking Americans who are the backbone of this country.

At the end of the day, our goal is for Americans to have more jobs, fairer taxes, and bigger paychecks. To learn more and to read the framework for yourself, visit FairandSimple.gop.