Political Quotes

“Mr. President, today we have the opportunity to pass the most sweeping changes to our Tax Code in more than 30 years. This historic moment is long overdue, and my constituents in Iowa will benefit from it. Since the last tax reform effort in 1986, the Tax Code has grown out of control in both length and complexity. All told, taxpayers spend over 6 billion hours annually just complying with the dictates of the Internal Revenue Code. Moreover, our outdated corporate tax system puts American companies at a competitive disadvantage as they try to compete in the 21st century global economy. The Tax Cuts and Jobs Act will make good on our commitment to provide significant tax relief to middle-income taxpayers both in my State of Iowa and in the entire United States, while making the Tax Code simpler, fairer, and, obviously, more pro-growth. The bill provides significant tax simplification for the vast majority of tax filers. Most taxpayers will find that they are better off simply by taking the standard deduction. No longer will they have to spend hours sifting through receipts and forms to determine what they can and cannot deduct. Middle-income taxpayers can also expect to see significant tax cuts. A median income family of four could see their tax bill reduced by over $2,000. This is relief that families will see almost immediately, as less tax is withheld from their paychecks.…”