One Step Closer: House Passes Tax Reform Compromise Bill
Today the House had another historic vote on tax reform, sending the final bill to the Senate for passage before it heads to President Trump’s desk.
FreedomWorks Vice President of Legislative Affairs Jason Pye made the following comment:
“Our activists have been pushing for tax reform that produces a simpler, flatter, fairer tax code all year. Although this is not the ideal tax bill, it does meet the specifications. This bill will unrig the economy and put America’s workers and their families first. Besides eliminating many deductions and capping others, it lowers rates for businesses. On the individual side, it doubles the standard deduction, pushes more income into lower tax brackets with lower rates. It is a win for the American people.”
FreedomWorks Senior Economic Contributor Stephen Moore made the following statement:
“This tax cut will be like a performance enhancing drug for the economy. Trump has already jacked up growth to 3 percent from 1.6 percent under Obama. This tax cut could produce 4 percent growth in 2018 — something we haven’t seen in almost two decades.
“The main beneficiaries will be American workers who will see millions of new jobs and higher wages and salaries to boost their paychecks.
“This is the biggest free market victory since the Reagan tax cuts in the 1980s and the welfare reforms of the 1990s.”