- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedJanuary 29th, 2018
- house Committees
Through lower tax rates and a larger standard deduction, the Tax Cuts and Jobs Act reduced the tax burden on working individuals and families and will help spur economic growth. Those reforms to the tax code should be locked permanently, as a possible tax hike in 2026 would undercut the economic benefits of the tax cut.
The reduced tax rates and higher standard deduction provided by the Tax Cuts and Jobs Act should be repealed as they increase the deficit too much and don’t do enough to help working Americans. If they were to be made permanent it’d explode the budget deficit by hundreds of billions of dollars.