Ron Estes: “I thank Chairman Brady for his efforts to get this tax reform bill done. Our outdated and uncompetitive Tax Code has led…”

“I thank Chairman Brady for his efforts to get this tax reform bill done. Our outdated and uncompetitive Tax Code has led to slow economic growth over the past decade in America. Today, we are taking an important step to fix that. The Tax Cuts and Jobs Act will reform the Tax Code and help foster economic growth. For more than three decades, families have paid a growing cost for our country's increasingly complex and burdensome Tax Code that is chockfull of special interest loopholes. This is not fair. The Tax Cuts and Jobs Act will simplify the process of filing taxes by doubling the size of the standard deduction and removing the need for millions to itemize their deductions. It will provide tax cuts to millions of middle-income working families. The Tax Cuts and Jobs Act also includes many tax reforms for businesses in order to spur economic growth. The bill makes it easier for entrepreneurs to start businesses, and it brings down the corporate tax rate from 35 percent to 20 percent to be in line with our competitors around the world. This will help spur economic growth by encouraging businesses to move their capital and jobs back to the United States and will help lower prices for Americans, who are the ones who ultimately pay for high corporate taxes through higher prices. I'm proud that the Tax Cuts and Jobs Act is focused on growing the economy, bringing jobs back to Main Street, and increasing paychecks for workers.…”