The Tax Cuts and Jobs Act was signed into law by President Donald Trump, making once-in-a-generation tax reform and tax relief a reality for Americans.
In 2012, Sen. Chuck Schumer (D-N.Y.) stated that reducing the corporate tax rate would ""boost growth and encourage more companies to reinvest in the United States." Senate Democrats and Sen. Schumer used to support tax reform. What happened?
Senate Republicans and House Republicans are working together to pass tax relief that will help Americans keep more of their hard-earned money.
Senate Republicans, House Republicans, and the White House are committed to ensuring that our military has the resources it needs to combat threats to America.
Myth: Sen. Elizabeth Warren (D-Mass.) claims that "one group of economists after another have looked at this bill and it won't do a darned thing." Fact: 137 economists said, "Economic growth will accelerate" under the Tax Cuts and Jobs Act. https://www.cnbc.com/2017/11/29/137-economists-support-gop-tax-reform-bill-in-open-letter-commentary.html Myth: In a deleted tweet, Sen. Kamala Harris (D-Calif.) claims that "On average, middle class families earning less than $86,000 would see a tax increase …" Fact: The Washington Post gave her "Four Pinocchios" and said, "Actually, it's the opposite. Most families in that income range would get a tax cut." https://www.washingtonpost.com/news/fact-checker/wp/2017/11/02/senate-democrats-falsely-claim-gop-tax-plan-will-raise-taxes-for-most-working-class-families/?utm_term=.6aa8aa26044b Myth: Sen. Chuck Schumer (D-N.Y.) claims that tax reform is "kicking 13 million people off health insurance to give tax cuts to the wealthy." Fact: The Washington Post says, "inaccurate." This bill only repeals the individual mandate's penalty, which means Americans will no longer be forced to buy insurance they don't want or can't afford. https://www.washingtonpost.com/news/fact-checker/wp/2017/11/16/schumers-claim-that-the-gop-is-kicking-13-million-people-off-of-health-insurance/?utm_term=.10deabd7fa65
"America has always been a place of opportunity. It's been a place where people come to build a better life." - Sen. John Thune (R-S.D.)
Sen. Steve Daines (R-Mont.) brought some "Big Sky Country" Christmas cheer to this year's lighting of the U.S. Capitol Christmas tree.
I just want to ask all the legislative parties, both the House and the Senate, to step forward and pass this legislation. It will have a significant impact on small businesses all across the country." - Misty DeAnn Mayes, owner of Management Solutions, LLC
"I'm Amy McIntrye. I'm the CEO of WMV Productions in Nashville, Tennessee. We're a video production company, mostly focused on product videos for sales and marketing purposes. We are a service-based LLC partnership, and one of our big frustrations is at the end of the year our on-paper profit is then passed down as a tax liability for the partners, but we don't actually see that cash in order to pay taxes on it. We use that money for next week's payroll or next month's expenses for overhead, you know, all of the capital improvements that we want to make, but we have to take that tax hit on it, and it's so frustrating. So it really makes it hard to strategize your cash flow, reinvest in the company, save up to hire somebody, when you are being taxed at the same time. So tax reform, simplification, all those things would be a great benefit for small business." - Amy McIntyre, President and CEO of WMV Productions
"My name is Alan Keck. I'm a small business owner in Somerset, Kentucky. My family owns an industrial recycling company, Somerset Recycling, my father started in 1984, and I'm also the founder of Keck Sports Management, a professional baseball agency. Tax reform impacts small business in many levels. As a business owner in rural Kentucky, one of the focuses is the amount of time that it takes to be compliant with the current burdensome tax code. And so while I'm excited about reduced rates, I'm equally excited, if not more excited, about the reduced time burden. Instead of dealing with compliance issues with the tax code that's antiquated, I can spend time with my family. I can spend time with my church, or doing things that we want to do. Or better yet we can innovate, we can create, and we can create more jobs." - Alan Keck a small business owner and entrepreneur in rural Kentucky