It has now been a week since the Tax Cuts & Jobs Act was introduced. That’s right — it’s already been a whole week since the big rollout, the debrief, and that adorable baby at the press conference.
Here’s a recap of what our bill does:
- Lowers individual tax rates for low- and middle-income Americans
- Eliminates special-interest deductions
- Establishing a new Family Credit, which includes expanding the Child Tax Credit
- Reduces the tax rate on the hard-earned business income of Main Street job creators
- Significantly increases the standard deduction
- Takes action to support American families
- Preserving the Child and Dependent Care Tax Credit
- Lowers the corporate tax rate to 20%
House Republicans have been outspoken on the need for tax reform for years, and continue to be out in full-force about our bold vision for more jobs, fairer taxes, and bigger paychecks. And more and more Americans across the country — the very men and women who inspired our work — are expressing their excitement about the potential impact tax reform could have on their lives.
Want to learn more? Text TAX REFORM to 50589 or visit FairandSimple.gop! And check out what what House Republicans are saying:
Rep. Peter Roskam (R-IL) on Bloomberg:
ICYMI: Rep. Rokam spoke with Bloomberg to discuss the progress of the tax reform bill.
Posted by Peter Roskam on Wednesday, November 8, 2017
“What I think is most significant is that you’re having a good, robust, dynamic debate in public — a lot of feedback and a lot of input all the way around. Yesterday, the Ways and Means Committee took up [the Tax Cuts & Jobs Act], it’s known as a ‘markup process,’ and the bottom line is it’s slow, and it’s deliberative. So, now many Democrats are offering amendments, it’s being considered and evaluated, and this is the nature of this process…but the process is moving forward. This is the first time you’ve seen something this significant in a few decades of this magnitude as it relates to tax policy. We’re on track to get this…tax relief in place by the end of the year.”
“We think that transforming our tax code, making the U.S. one of the most competitive tax jurisdictions in the world, getting the corporate rate down to 20%, moving away from an international system to a territorial system so that money is repatriated and so forth, dealing with business income and pass-throughs at a lower rate for the first time ever…that’s really worth chasing.”
Rep. David Schweikert (R-AZ) on Fox News:
“Tax reform is so much more than just tax cuts. It’s designed to create economic growth. As a society, we have trillions and trillions in unfunded liabilities — of promises we’ve made to our seniors and others — and we don’t have the money. The only way we can get close to it is we must grow economically. That means American businesses have to stop leaving our country and moving their headquarters overseas.”
Rep. Ted Budd (R-NC) on the House floor:
“In the coming weeks…we have a rare opportunity to finally deliver a tax bill that puts working families first by passing the Tax Cuts and Jobs Act into law. …The first question we should ask is: ‘Does this bill cut taxes for the vast majority of hard-working American families?’ The answer to this question is yes. …the second question…’Will this bill bring back jobs from overseas?’ The answer to this question, like the first one, is yes…my last question that we should all ask. ‘Would this bill simplify the tax filing process for working families next year and in years to come?’ The answer to this, as well, is yes.”
Rep. Sean Duffy (R-WI) on Fox News:
“When you have more investment and more business, that means more jobs for middle-income families with better wages, which is what this is all about — how do we help the American family? I think this package that [Chair] Kevin Brady and the Ways and Means Committee put together is pretty awesome.”
Rep. Mike Kelly (R-PA) on Fox Business:
“Americans are going to be very happy. We’re going to make America great again, because we’re going to be taxing Americans less again. We’re going to be increasing their take-home pay. We’re going to be competitive throughout the whole world…we need to be the place where people want to start businesses and keep businesses going. There’s so much good coming out of this tax piece. We’re going to get the normal pushback, but you know what? We’re used to it. Let’s just make sure that at the end of the day, we’re working for America.”
Rep. Gary Palmer (R-AL) on Facebook:
“With the introduction of the Tax Cuts and Jobs Act, House Republicans took the first major step toward putting America back on the path to a strong and vibrant economy. Americans deserve to keep more of the money they worked hard to earn and it is vital that we deliver on this promise to the American people. It has been 31 years since the last overhaul of our nation’s tax code, so these fundamental reforms that lower taxes on individuals and businesses are long past due. These reforms, if implemented, will deliver the type of sustained economic growth that has been sorely lacking in recent years.”
Education and Workforce Committee Chair Virginia Foxx (R-NC):
“Americans have needed relief from burdensome taxes and stagnant wages for a long time. Republicans have listened and have delivered. The Tax Cuts and Jobs Act provides workers and families with a competitive tax code that is truly pro-growth. Workers will see a raise in wages and families will see more money coming into their households. The Republican tax plan will empower Americans to do what they want with their money, whether that’s paying for the education opportunities they want or saving more for retirement. It’s time to give Americans a pay raise, and the time to act is now.”
Rep. Paul Mitchell (R-MI) on GOP.gov: “Lower taxes. We can keep more. We can do more.”
Did you know that in Michigan, 40 percent of residents can’t afford basic necessities? It’s a startling number. Knowing just how many of our fellow Michiganders are barely scraping by is a constant reminder to my colleagues and me of the responsibility we have as their representatives. It’s on us to do everything in our power to grow the economy and increase opportunities available to families and individuals across our home state. That’s why I support our Unified Framework for Fixing the Broken Tax Code. Instead of punishing hard work, pro-growth tax reform will make it possible for Americans to keep more of their hard-earned money. That means more money to put food on the table, buy school supplies, and save for a rainy day.
Rep. Richard Hudson (R-NC) on GOP.gov: My district is the face of tax reform
More jobs. Fairer taxes. Bigger paychecks. Those are the goals of our plan for tax reform, and they’re inspired by the people who elected us to be their voice here in representative government. Tax policy is wonky and can be a little complicated. But every statistic we share, every dollar saved, and every bracket changed is so much more than numbers on a spreadsheet. Those numbers represent farmers and teachers and parents and small business owners — people who work hard and try to get ahead with a tax code that barely lets them get by. Those numbers represent untapped potential. Those numbers represent our family, friends, and neighbors.
For me, it’s about the people of North Carolina’s 8th District. My family has been here for seven generations — this is my home. And every week, I meet with men and women across this district who want a tax code that works for them
Rep. Lloyd Smucker (R-PA) on GOP.gov: Tax reform is an investment in Pennsylvanians
As we went through the bill and discussed each section, my mind went immediately to the people of Pennsylvania. I recently spoke to a single father of five in Lancaster County. His ask of Congress was straightforward: a tax reform plan that means he’d get more money in his paychecks. He makes ends meet now, but it isn’t easy with five kids and he could use a little help. He’s exactly the type of person we’re trying to help with our bill — and who inspired its creation. Our reform will make the tax code simpler and more honest.
Rep. Rob Wittman (R-VA) on GOP.gov: Tax reform isn’t about brackets — it’s about people
Each day, I commute back to Montross, Virginia, and I hear from people back home that they are struggling. Families are living paycheck to paycheck, farmers can’t pass down their legacy to their children without paying Uncle Sam, and too many small businesses are kept from expanding and creating jobs. With our tax reform bill, the Tax Cuts & Jobs Act, we will begin to offer relief. There are a number of big policy wins with our reforms, but it’s important that the American people’s voices don’t get drowned out by talk of statistics and tax brackets.
Throughout this tax reform process, I am committed to making sure we help our small businesses and working-class Americans. We cannot continue to burden our families and job creators; we must instead unleash America’s full potential.