Tax Cuts And Jobs Act
Madam Speaker, I thank the chairman for all of his work. Madam Speaker, I can't tell you how grateful I am to cast a vote to move our Tax Code one step closer to its first overhaul in 31 years. We know the Tax Code is broken. The American…
Madam Speaker, I thank the chairman for all of his work.
Madam Speaker, I can't tell you how grateful I am to cast a vote to move our Tax Code one step closer to its first overhaul in 31 years.
We know the Tax Code is broken. The American people know the Tax Code is broken. They are reminded every time they look at their paycheck. The Tax Cuts and Jobs Act will deliver progrowth tax reform to the families, farmers, manufacturers, and workers in my district.
For families, we are delivering tax cuts so that hardworking Hoosiers can keep more of their hard-earned money. We are enhancing the child tax credit, preserving the Adoption tax credit, encouraging retirement savings, and streamlining 15 different education tax incentives.
We are delivering a Tax Code so simple that most Americans can file taxes on a postcard. In my district, 80 percent of filers already take the standard deduction. They will be able to keep even more of their money, because the standard deduction is doubled, and most itemizers will now be able to save time, money, and stress by taking the double standard deduction instead.
No one is ever excited to file their taxes, but I am all for a simpler, quicker process that makes it much more pain-free.
H.R. 1 helps job creators grow. Small businesses get a lower rate and more simplicity. Family businesses passed down for generations won't have to worry about the estate tax anymore, and America will be a more attractive place to do business.
Our antiquated Tax Code keeps investment in jobs out. This bill incentivizes companies to bring profits back, to locate facilities here, and to grow American jobs and raise wages.
Madam Speaker, I was so proud to vote for this bill in the Ways and Means Committee, and I am proud to be a part of this House that is delivering yet another crucial step toward tax cuts, simplicity, and fairness.
Madam Speaker, I urge all of my colleagues to support this bill.