Why Tax Reform 2.0 Matters

This week the House continues our work on tax reform with Tax Reform 2.0, which means protecting middle-class and small business tax cuts, promoting family savings, and advancing the next generation of entrepreneurs

Why does this matter? Because the Tax Cuts & Jobs Act is making a real difference in the lives of middle-class families and small business owners.

Just check out this column that ran in the Spokesman-Review over the weekend: “Longtime local accountant finds tax cuts will benefit middle class.”

An accountant in Spokane with decades of experience crunched the numbers for the Tax Cuts and Jobs Act, and ran scenarios for 30 difference typical households in Eastern Washington. His results showed, “every household type at every income level saving money.(PSSST: If you like what you see, CLICK HERE to share the analysis on Twitter.)

He also shared his results with other accountants and tax professionals in the area. Here’s what they said:

  • “[F]or simple returns, people are saving money.” 
  • “[E]veryone’s tax situation is different, but overall I am seeing benefits from the TCJA.”
  • “Due to increased allowances for both the [Child Tax Credit] and [Earned Income Tax Credit], each of these income ranges with dependent children would benefit significantly.”

Verified: Tax reform is benefiting the middle class. That’s why the People’s House is voting this week to make the tax cuts and the doubled standard deduction permanent.

CLICK HERE to read more in the Spokesman-Review.