Today the House voted in favor of the comprehensive reform bill – the Tax Cuts and Jobs Act – that was formalized in conference last week. Stop the Tax Attack along with the National Taxpayers Union applaud the House for their hard work and encourage the Senate to take the baton, bringing the bill over the finish line this week.
Over the course of December members of both, the House and Senate have worked vigorously to negotiate and meet in the middle on a tax reform proposal that will transform lives for middle-class families and businesses of all sizes, from your small town shop to large corporations.
The version of the Tax Cuts and Jobs act voted on today – that will ultimately be sent to President Trump – cuts the corporate tax rate to 21%, reduces the number of tax brackets, and according to the Tax Foundation will stimulate upwards of $600 billion in federal revenues from economic growth alone.
Not to mention, the Tax Cuts and Jobs Act will boost the confidence of business owners attracting investment and create more jobs, at least 339,000 full-time equivalent jobs according to the Tax Foundation.
It is imperative, that as the Senate prepares to vote on the Tax Cuts and Jobs act, they think of the hard-working American families needing the relief this bill will provide. We encourage the Senate and support them as they move forward on what will go down as a historic event in American history.