Political Quotes

“like several of my colleagues today, under the leadership of my colleague from Iowa, Senator Ernst, we come to the floor to discuss the benefits of the tax cut of 14 months ago. Congress then passed historic tax legislation that fundamentally reformed our Tax Code and provided tax relief to middle-income Americans and to job creators. The Tax Cuts and Jobs Act, as it is called, made good on our commitment to provide significant tax relief to middle-income taxpayers while making the Tax Code simpler, fairer, and, of course, pro-growth oriented. Thanks to a near doubling of the standard deduction, millions of taxpayers are discovering right now, as they file their taxes, they can pay less without spending hours and hours sifting through receipts and extra forms, all because the standard deduction is doubled. Middle-income taxpayers can also expect to see a significant reduction in their tax bill from last year. For example, an Iowa family of four, with a State's median income of around $73,000, stands to see their tax bill cut by more than half, or approximately $2,000. This is real relief that began appearing in many taxpayers' paychecks at the start of 2018. Given this, the best way for taxpayers to see how tax reform affects their bottom line is to compare this year's tax return with last year's tax return, rather than on the size of their refund.…”