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Americans often hear from radical leftists that “the rich need to pay their fair share” of income taxes. The rhetoric is hard to avoid. Sen. Bernie Sanders (I-Vt.) based partly based his failed 2016 presidential campaign on soaking the wealthy in taxes, and House and Senate Democrats railed against the Tax Cuts and Jobs Act, H.R. 1, because it lowered tax rates across the board, including on higher-income earners.
The Tax Cuts and Jobs Act achieved many goals. It delivered a historic reform of the individual tax code, lowered individual and corporate tax rates, and boosted economic growth. Indeed, the United States’ economy will most likely see 3 percent annual growth this year for the first time since 2005.
On behalf of our activist community, I urge you to contact your senators and ask them to support the Student Empowerment Act, S. 3102, introduced by Sen. Ted Cruz (R-Texas). This bill will further expand 529 education savings accounts to include K-12 elementary and secondary school expenses for public, private, and religious schools, including homeschool students.
On Monday, the Congressional Budget Office (CBO) released its semiannual report on federal spending. The report, The Budget and Economic Outlook: 2018 to 2028, looks at trends in federal spending, budget deficits, and the share of the national debt held by the public. If one is looking at the report through the lens of fiscal conservatism, the picture is ominous to say the least.
On behalf of our activist community, I urge you to contact your representative and ask him or her to support the Creating Real and Useful Middle-Class Benefits and Savings (CRUMBS) Act, H.R. 5012, introduced by Rep. Todd Rokita (R-Ind.). The bill would ensure that bonuses under $2,500 will not count towards an employee’s federal tax liability in 2018.
Shortly before the passage of the Tax Cuts and Jobs Act (H.R. 1), House Minority Leader, Nancy Pelosi (D-Calif.) took her opposition to tax cuts for millions of Americans to a new level on the House floor. She stood before her colleagues and proclaimed that the bill was “the worst bill in the history of the United States Congress.”
On behalf of our activist community, I urge you to contact your representative and senators and ask them to vote YES on the conference report for the Tax Cuts and Jobs Act, H.R. 1. This final agreement on the Tax Cuts and Jobs Act provides much-needed relief to taxpayers across the country and to American businesses alike.
On December 15, the House and Senate negotiators, known as a conference committee, released a conference report for the Tax Cuts and Jobs Act, H.R. 1. The report outlines the final agreement that will be voted on by the two chambers the week of December 18.