Dear Friend, Today is a good day for hardworking Americans! The House just passed legislation that will let you keep more of your paycheck to save, spend, and invest as you see fit. That’s why we simplify the tax code and cut taxes for all Americans to ensure hardworking Americans – like the people I represent in Southeast Texas – can keep more of their hard-earned money. It has been more than 30 years since the last time we overhauled our tax code. And since then it has grown to more than 70,000 pages. I like to put it this way; our current tax code is now longer than the Bible with none of the good news. Over the past 30 years, Washington has piled up all these carveouts and loopholes for special interests —making things far too complicated and far too expensive for hardworking families. This needs to end – and today the House took a historic step to fix that and deliver long overdue tax relief to the American people.
Importantly, we also double the standard deduction, increase the child tax credit, eliminate the Death Tax, and preserve the home mortgage interest deduction. In addition – to help create more good jobs right here in America – we lower the tax rate on job creators from 35% down to 20%. Folks, let us not forget. When we reformed the tax system over 30 years ago, it led to an explosion in jobs and economic growth. With the passage of this bill, we are now on the verge of achieving such greatness again. This is an exciting time – and the American people deserve some good news. |
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