Carper reacts to tax reform bills

Podcast: Tax reform and the Constitution

Brady said he's confident the House bill would benefit small businesses and spark job growth, noting that the legislation allows for things like immediate expensing, which would allow business owners to write off the total cost of business expenses right away. Americans deserve jobs, fair taxes, and bigger paychecks.

Randy Hultgren of Plano showed support for the bill, stating in a press release "this bill provides tax cuts for the middle class, low-income Americans and US businesses of all sizes-from home builders, to contractors, to farmers and small businesses in IL".

On November 2, 2017, we alerted taxpayers that the House Ways and Means Committee had unveiled its much anticipated tax reform bill titled the "Tax Cuts and Jobs Act" (the "House Plan").

Podcast: Tax reform and the Constitution

"It's been 31 years since the last overhaul of the tax code", Latta said. Ending the "death tax" is an article of faith for many conservatives, but doing so creates both fiscal and political problems.

Vaughan says the economic damage caused by the House tax bill to the wind industry will be felt severely in South Dakota, Iowa, Nebraska and Minnesota.

Significantly increases the standard deduction to protect roughly double the amount of what you earn each year from taxes - from $6,350 to $12,000 for individuals and $12,700 to $24,000 for married couples.

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Consolidating the number of tax brackets from seven to four. Individual Retirement Accounts and 401 (k) plans would also retain their tax-exempt status.

"With today's vote, President (Donald) Trump and House Republicans have seized this once-in-a-generation opportunity to reform our nation's tax code", Collins said. "But, as I read it, there is no minimum rate for real business activity overseas".

Getting that money repatriated and invested in the United States economy could be YUUUGE - to use one of President Trump's favorite descriptors - in terms of creating new jobs.

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The Tax Cuts and Jobs Act will deliver tax relief to families in every Congressional district across the country. The bill also is expected to create almost 1 million new jobs, increase annual after-tax income for middle-income households by an average of $2,598, and grow our economy by more than 3.5 percent.

"I encouraged him to work with the Senate Finance Committee and his members to make the case for his ideas", Brady told The Daily Caller following the House's passage of their version of the bill Thursday.

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